Founder of Austin-based water brand sentenced to 51 months for defrauding over $6M

NEWARK, N.J. — The founder of an Austin-based water brand was sentenced to over four years in prison for defrauding investors of over $6 million.

Todd O’Gara, the 46-year-old founder of the now defunct Wanu Water beverage company, raised over $6.6 million from individual investors, repeatedly lying to solicit those investments and encouraging investors to maintain their investments, according to the U.S. Attorney’s Office in the District of New Jersey.

The U.S. Attorney’s Office says that O’Gara lied to investors about the size of purchase orders from retailers and about major investments from private equity firm, using fake documents including doctored emails and forged term sheets to wrap victims into his scheme.

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O’Gara pled guilty to one county of wire fraud before a judge in a Newark federal court, the judge sentencing him to serve 51 months in prison followed by three years of supervised release.