The Securities and Exchange Commission (SEC) today charges Wanu Water, Inc. and the founder of Todd O’Gara by conducting a bid scam that has increased millions of dollars for five years.
According to SEC’s complaint, from January 2019 to August 2024, O’Gara and Wanu increased at least $ 10.3 million from more than 50 investors through the bid and sale of securities issued by Wanu.
It is allegedly that O’Gara and Wanu made material misleading statements to investors, overestimating the size of the Wanu agreements with a prominent retailer, claiming that at least two private shares had promised large investments, misleading their personal wealthy and personal wealthy.
The complaint further claims that O’Gara and Wanu used constructed documents to support their false statements.
The complaint of the Securities and Exchange Commission charges O’Gara and Wanu in breach of Article 17 (a) of the 1933 Mobile Values Act and Article 10 (b) of the 1934 and Article 10B-5 Mobile Exchange Act.
O’Gara and Wanu agreed to settle the SEC charges against them. The settlement, which is subject to approval by the Court, will permanently impose O’Gara and Wanu by the breach of debit provisions of federal mobile values laws, prohibit O’Gara from negotiating in titles (with the exception of negotiations in his or her own accounts) O’gara. It will also be envisaged that the court will decide on the amounts of discoloration, bias interest and civil sanctions later.
O’Gara was also criminalized in parallel by the United States Public Prosecutor’s Office for the New Jersey District for relevant behavior.