Court paperwork present the founder misrepresented himself, exaggerated the corporate’s worth and doctored buy orders.
AUSTIN, Texas — An Austin man and beverage firm founder faces as much as 20 years in jail for allegedly scamming buyers out of thousands and thousands.
Wanu Water founder Todd O’Gara appeared in court docket Thursday after being charged with wire fraud for allegedly mendacity about his product in a number of situations.
Court paperwork state Wanu Water began shedding cash yearly in 2019 regardless of being available on the market for a number of years. Wanu Water had a projected lack of practically $4 million for 2019, which led O’Gara to search out cash from exterior buyers.
The paperwork accused O’Gara of misrepresenting himself, Wanu Water’s worth whereas additionally doctoring buy orders and exaggerating investor commitments. One of the allegations says O’Gara despatched a textual content message to a sufferer in 2021 that an funding agency valued his firm at $300 million.
There have been additionally claims of a number of situations the place cash wired to Wanu Water wasn’t used for product success and as an alternative spent on different bills.
Ultimately, buyers in California, New Jersey and New York mentioned they have been defrauded out of no less than $3.4 million. If convicted, O’Gara might face a most sentence of 20 years in jail and a effective.
KVUE reached out to Wanu Water for a touch upon the allegations. A consultant shared the next assertion from O’Gara: “I unequivocally deny the costs and sit up for being cleared from all allegations.”
What is Wanu Water?
The identify Wanu is brief for water and vitamins.
The firm was based by O’Gara and his spouse, Jacqueline O’Gara, who serves as the corporate’s director of brand name advertising and marketing. They began in 2013 inside an condominium in San Francisco, California earlier than transferring the corporate to Austin.
Wanu Water is bought at choose Costco’s in Texas, Louisiana, Oklahoma and Kansas.
