Ozy Media and founder Carlos Watson were convicted of fraud by a Brooklyn federal jury on Tuesday, in a case accusing them of lying to investors about the now-defunct startup’s finances and sham deals with Google and Oprah Winfrey.
Watson, a former cable news anchor and investment banker, and Ozy were each convicted of securities fraud conspiracy and wire fraud conspiracy, while Watson was also convicted of identity theft. Both had pleaded not guilty.
Federal prosecutors said Watson and his California-based news and entertainment company falsified information about Ozy’s finances and audience size, fabricated contracts and inflated earnings projections to court investors.
Founded in 2013, Ozy imploded in 2021 after
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