Overview

• Carlos Watson, former CEO of Ozy Media, received a 116-month prison sentence for securities fraud, wire fraud, and aggravated identity theft.
• Prosecutors accused Watson of defrauding investors out of over $60 million by falsifying financial data, fabricating contracts, and inflating audience metrics.
• The scheme included Watson's co-founder impersonating a YouTube executive to secure a $40 million investment, with Watson allegedly coaching him during the call.
• Watson denied the charges, claiming he was unaware of his deputies' actions and alleging racial bias in his prosecution, but the court rejected these defenses.
• The sentencing follows Ozy Media's collapse in 2021 after reports exposed its fraudulent practices, including misleading investors and inflating its business success.