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Ozy Media Founder Carlos Watson Sentenced to Prison
Carlos Watson, the founder of failed media company Ozy Media, has been sentenced to nearly a decade behind bars for misleading investors. Prosecutors claimed that Watson orchestrated a scheme that resulted in millions of dollars in losses.
Watson falsified company finances, connections, and acquisition prospects to attract investors. He denies the allegations and plans to appeal.
District Judge Eric Komitee sentenced Watson to 116 months in prison for fraud and identity theft. US Attorney Breon Peace condemned Watson’s “brazen” lies and contempt for the law.
Watson’s downfall began in 2021 when a New York Times report revealed that an Ozy executive impersonated a YouTube representative. Despite initially denying his involvement, prosecutors allege that Watson participated in the deception.
Ozy Media, valued at $159 million in 2020, aimed to emulate the success of digital media giants. However, the scandal forced the company to close down in October 2021. Watson remains free on bond pending his appeal.