U.S. Attorney Philip R. Sellinger | U.S. Department of Justice
The founder and executive chairman of a beverage company has been charged with defrauding investors, according to an announcement by U.S. Attorney Philip R. Sellinger. Todd O’Gara, 44, from Austin, Texas, appeared in court on charges of wire fraud.
O'Gara is accused of soliciting at least $3.4 million from investors for his company, Wanu Water, Inc., through false representations. He allegedly misled investors about purchase orders and investments from private equity firms. The complaint states that O'Gara provided fake documents such as doctored emails and forged term sheets to support his claims.
The charge of wire fraud carries a potential sentence of up to 20 years in prison and a fine of $250,000 or twice the financial impact on victims or gains made by the defendant.
U.S. Attorney Sellinger noted that the investigation remains ongoing and urged those who may have information or believe they are victims to contact the FBI via email at newark-victim_assistance@fbi.gov.
Special agents from the FBI's Newark Field Division are credited with conducting the investigation under Acting Special Agent in Charge Nelson I. Delgado's direction. The case is being prosecuted by Assistant U.S. Attorneys Aaron L. Webman and Carolyn Silane from the Economic Crimes Unit in Newark.
