Carlos Watson, the founder of defunct digital media company Ozzie Media, was sentenced to 10 years in prison for lying to investors about the financial status of his startup.
Mr. Watson's 116 months imprisonment He was sentenced Monday in Brooklyn federal court on charges of conspiracy to commit securities fraud, conspiracy to commit wire fraud, and aggravated identity theft, according to a press release from the U.S. Attorney's Office for the Eastern District of New York. Watson says, Highlighted by Mediaite.
From 2018 to 2021, Watson and his co-conspirators extorted “tens of millions of dollars from investors” through “fraudulent misrepresentations and omissions” of digital information, according to court filings and confirmations at trial. He put together a plan to defraud the public. The media company's financial performance, according to a press release.
“Carlos Watson orchestrated an audacious, multi-year scheme to defraud investors and lenders in his company Ozzie Media out of tens of millions of dollars,” said U.S. Attorney Breon Peace. stated in a sentence. “His constant and deliberate lies demonstrated not only a brazen disregard for the rule of law but also a contempt for the values of honesty and fairness that should be the bedrock of American entrepreneurship.”
Watson was arrested on wire fraud charges in early 2023 after a former company executive pleaded guilty to wire fraud charges. He later denied any wrongdoing, saying he was “never and never am a 'con artist.'”
“I worked 24 hours a day for 10 years to build this company, and I dedicated my life's savings to getting through difficult situations,” Watson said on Social Platform X. , my family, and my team were able to accomplish this. ”
“I'm not saying I haven't made mistakes. I have. But it's fair to ask why I was the only one chosen. OZY was built with tremendous effort and sacrifice. “It's a company with real value,” he continued.
The Hill has reached out to Watson's attorney for comment.
