Todd O’Gara, the founder and executive chairman of Wanu Water, Inc., was sentenced to 51 months in prison for wire fraud after admitting to defrauding investors out of more than $6.6 million. The sentencing took place before U.S. District Court Judge Stanley R. Chesler in Newark federal court.
O’Gara, 46, who is from Austin, Texas and Reno, Nevada, also received a sentence of three years of supervised release following his prison term. He previously pleaded guilty to one count of wire fraud.
Court documents and statements revealed that O’Gara solicited investments for his beverage company by making false claims about the business’s financial prospects. He misrepresented the size of purchase orders from retailers and claimed there were significant investments from private equity firms that did not exist. To support these claims, he provided investors with fake documents such as doctored emails and forged term sheets.
Senior Counsel Philip Lamparello announced the sentencing and credited special agents of the FBI’s Newark Field Division, led by Special Agent in Charge Stephanie Roddy, for their investigation into the case.
Assistant U.S. Attorney Aaron L. Webman, Deputy Chief of the Economic Crimes Unit in Newark, represented the government during proceedings.
Defense attorneys John Yauch and Shaiba Rather represented O’Gara.
