Tue Dec 17 20:40:00 UTC 2024: ## Ozy Media Founder Carlos Watson Sentenced to Nearly 10 Years in Prison for Fraud

**New York, NY** – Carlos Watson, co-founder of the defunct digital media company Ozy Media, was sentenced to 116 months (nearly 10 years) in prison on Monday for defrauding investors and lenders. The sentence follows a July conviction on charges of conspiracy to commit securities and wire fraud, and identity theft. A federal jury found Watson guilty after a two-month trial that revealed fabricated contracts, misleading financial claims, and an impersonated phone call used to deceive investors from 2018 to 2021.

Watson, who founded Ozy in 2013, had pleaded not guilty and maintained his innocence throughout the proceedings. His defense argued that his representations were based on good-faith assessments and blamed other former employees for any fraudulent activity. Prosecutors had sought a 17-year sentence and $65.6 million in forfeiture, though the final amount remains undetermined.

Judge Eric Komitee of the U.S. District Court for the Eastern District of New York described the situation as a “tragedy of Mr. Watson’s own making,” noting the significant prison sentence despite Watson’s assertion that he was simply presenting the typical financial picture of a struggling startup. Watson’s actions took place during a period of significant investment in digital media companies, a trend that ultimately proved unsustainable for many players in the field. The maximum sentence Watson faced was 37 years.

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