Former talk show host and Ozy Media cofounder Carlos Watson was sentenced to nearly 10 years in prison yesterday for attempting to defraud investors and lenders by lying about his now-defunct media company's finances.
The sentencing comes five months after a federal jury convicted 55-year-old Watson and Ozy Media of conspiracy to commit securities and wire fraud; Watson was also convicted of identity theft. The scheme included forged contracts and false claims about the company's 2018-2021 earnings and audience size. Ozy's chief operating officer also misrepresented himself as a YouTube executive during a 2021 call with Goldman Sachs. The bank was reportedly considering a $40M investment in Ozy, based primarily on self-reported readership numbers and a purported relationship with YouTube.
Ozy Media was an Emmy-winning digital media platform popular with younger consumers until it shut down in October 2021 after reports emerged questioning its business practices. Watson has denied any wrongdoing. Listen to a podcast series on Ozy Media's unraveling here.
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