OXYwater Developers Preston Harrison and Thomas Jackson Indicted on Fraud Charges

securities fraud attorney ClevelandPreston J. Harrison and Thomas E. Jackson were indicted by a federal grand jury on charges that they defrauded their company’s investors and diverted investors’ funds for their own personal use.

Harrison and Jackson operated Westerville, Ohio-based Imperial Health Research and Development, LLC and developed a product called OXYwater, a beverage that promoters claimed was an all-natural, vitamin-enhanced sports drink that contained added oxygen for improved physical performance, according to the indictment.

Harrison and Jackson engaged in a scheme to deceive the investors in their company about the structure, composition, finances, sales and profits of OXYwater in order to make the company appear to be a lucrative and profitable financial investment, according to the indictment. Harrison and Jackson allegedly created false and fraudulent statements and sent them to investors with the intent to deceive them in order to eventually obtain money invested in the company and use it for their own personal and household expenditures, including the purchase of a Cadillac Escalade, a BMW, jewelry, a swimming pool, and weapons.

Between August 2010 and spring 2013, Harrison and Jackson misappropriated more than $2 million of investors’ funds, according to the indictment. Investors lost approximately $9 million as a result of the alleged misconduct.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.