Ozy Media Chief Carlos Watson Found Guilty of Securities Fraud and Conspiracy Charges: ‘A Con Man Who Told Lie After Lie,’ Prosecutor Says
variety.comCynthia Littleton Business Editor Ozy Media founder Carlos Watson was found guilty Tuesday by a federal jury in Brooklyn of defrauding investors in the operation of the firm that he pitched as a next-generation media company.
Watson was found guilty of fraud and conspiracy charges in New York’s Eastern District circuit after an eight-week trial. He faces up to 37 years in prison.
Ozy Media shut its doors in early 2023 amid a scandal that erupted after the New York Times reported on a scheme arranged by Watson and Samir Rao, Ozy Media’s chief operating officer, to impersonate executives from YouTube and other firms to help the company land investment dollars. “The jury found that Watson was a con man who told lie upon lie upon lie to deceive investors into buying stock in his company.
Watson invented phony financial figures and caused others to forge fake contracts and impersonate a media executive,” said Breon Peace, U.S.
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