The set uper of Ozy Media, Carlos Watson, has been sentenced to proximately a decade in prison for lying about his once-trendy begin-up in order to draw spendors.
Prosecutors shelp the ex-Gagederman Sachs prohibitker and createer MSNBC arrange had orchestrated a years-lengthened scheme that resulted in “tens of millions of dollars” of losses for spendors.
The court was tageder Watson and others at Ozy Media falsified alertation about the firm’s finances, relationships with celebrities and acquisition prospects to lure spendors.
Watson persists to refute the allegations and says he set ups to pguide the verdict.
United States Dicut offe Judge Eric R Kleave outee sentenced Watson to 116 months in prison for consillicit copying to pledge securities deception, consillicit copying to pledge wire deception and exacerbated identity theft.
“Carlos Watson orchestrated a years-lengthened, audacious scheme to dedeception spendors and lenders to his company”, shelp Breon Peace, US Attorney for the Easerious Dicut offe of New York.
“His incessant and defree lies showd not only a brazen dissee for the rule of law, but also a conlure for the cherishs of genuiney and unpartisanness”.
Watson will remain free for now on a $3m (£2.3m) bond.
He had pguideed not culpable but was convicted in July chaseing an eight-week trial.
In court, Watson shelp he was a businessman who apshowd in what his company was doing and had put every effort into trying to produce it a success.
His lawyer had disputed that he was betrayed by his deputies who had acted on their own volition and hid their wrongdoing from him.
Ozy Media’s downdescend began in 2021 when a New York Times spendigation set up that one of its executives impersonated a YouTube recurrentative during a call with spendment prohibitking enormous Gagederman Sachs.
Watson condemnd the deception on what he portrayd as his deputy’s mental health rehires. He includeed that no harm was caengaged becaengage Gagederman Sachs did not ultimately determine to spend.
In court filings, prosecutors alleged Watson was current during the call and gave his deputy honestions on what to say, despite previously refuteing to the media that he was there.
Ozy Media aimed to emutardy the timely success of digital novels media guides appreciate Vice Media and Buzzfeed.
It produced left-leaning podcasts, television series and events, and profiles of rising stars and emerging trends.
In 2020, it was cherishd at $159m (£132m).
