7 sources·Business

Carlos Watson Sentenced to Nearly 10 Years for Ozy Media Fraud

Carlos Watson, founder of Ozy Media, was sentenced to 10 years for financial fraud, involving deceptive practices to mislead investors and inflate company success.

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Updated: Dec 16th, 2024, 7:09 PM ET

Summary

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Carlos Watson, former host and founder of Ozy Media, has been sentenced to nearly 10 years in prison after being found guilty of wire fraud and conspiracy charges. Prosecutors detailed his role in a deceitful scheme to mislead investors regarding the financial health of Ozy Media, which inflated revenues and fabricated deals. Watson blamed others for the misrepresentations, claiming selective prosecution due to his race. The now-defunct Ozy Media, once aimed at millennials, collapsed in 2021 after a New York Times exposé revealed significant discrepancies in its operations. Watson plans to appeal the verdict.

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