Todd O’Gara, 44, the founder and executive chairman of Wanu Water, Inc., appeared in federal court today facing charges of wire fraud for allegedly defrauding investors out of approximately $3.4 million, according to the U.S. Attorney’s Office for the District of New Jersey.
O’Gara, who resides in Austin, Texas, was charged by criminal complaint and appeared before U.S. Magistrate Judge Dustin Howell in federal court in Austin. The wire fraud charges carry a maximum penalty of 20 years in prison and a fine of $250,000 or twice the amount of the gross gain or loss, whichever is greater.
According to the court complaint and statements made during the hearing, O’Gara misled individual investors to solicit funds for Wanu Water and to convince them to maintain their investments. He allegedly made false claims about large purchase orders from major retailers, including a fabricated $734,448 order, when in reality, records show the retailer’s total purchases between 2017 and 2024 amounted to just $412,000.
O’Gara is also accused of creating fake investment agreements with private equity firms, including forging term sheets that falsely indicated millions of dollars in committed funding. These misrepresentations, supported by doctored emails and documents, were used to perpetuate the fraudulent scheme.
The FBI alleges that O’Gara used the investor funds for personal expenses, rather than for the legitimate business purposes of Wanu Water, which was experiencing financial difficulties. In 2019, the company had projected a loss of $3.77 million.
The charges against O’Gara highlight his alleged deceitful actions in misleading investors and misusing funds, with serious legal consequences if convicted.