I respectfully disagree
Fraud - a person or thing intended to deceive others, typically by unjustifiably claiming or being credited with accomplishments or qualities.
With hindsight from day 1 Wigwag acted fraudulently in terms of statements made about the progress, status of the hardware and the status of regulatory approvals
Some of invested a large amount of money and have received absolutely nothing other than a lot of false claims and lies
Wigwag has been funded, is still operating but has 100% walked away from this project
Management should be charged with fraud