Todd O’Gara, the founder and executive chairman of Wanu Water, Inc., has been sentenced to 51 months in prison after pleading guilty to one count of wire fraud. The sentencing took place before U.S. District Court Judge Stanley R. Chesler in Newark federal court. Following his prison term, O’Gara will serve three years of supervised release.
Court documents and statements revealed that O’Gara raised more than $6.6 million from individual investors by providing false information about the company's operations and financial prospects. He misrepresented the size of purchase orders from retailers and claimed major investments from private equity firms that did not exist. To support these claims, he sent investors fabricated 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 work on the investigation.
Assistant U.S. Attorney Aaron L. Webman, Deputy Chief of the Economic Crimes Unit in Newark, represented the government in this case.
Defense attorneys John Yauch and Shaiba Rather represented O’Gara.
