Carlos Watson Convicted in Ozy Media Fraud Case

The former CEO faces up to 37 years in prison for defrauding investors and lenders out of tens of millions of dollars.

Watson was found guilty of conspiracy to commit securities fraud, wire fraud, and aggravated identity theft.
The fraudulent scheme included forging contracts and impersonating media executives to secure investments.
Co-conspirators Samir Rao and Suzee Han have pleaded guilty and await sentencing.
Ozy Media, now defunct, also faces financial penalties following the conviction.
Watson plans to appeal the verdict, claiming the misrepresentations were standard startup challenges.