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Ozy Media boss gets nearly 10 years in prison for fraud

December 17, 2024
in Business
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Ozy Media boss gets nearly 10 years in prison for fraud
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United States District Judge Eric R Komitee sentenced Watson to 116 months in prison for conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft.

“Carlos Watson orchestrated a years-long, audacious scheme to defraud investors and lenders to his company”, said Breon Peace, US Attorney for the Eastern District of New York.

“His incessant 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”.

Watson will remain free for now on a $3m (£2.3m) bond.

He had pleaded not guilty but was convicted in July following an eight-week trial.

In court, Watson said he was a businessman who believed in what his company was doing and had put every effort into trying to make it a success.

His lawyer had argued that he was betrayed by his deputies who had acted on their own volition and hid their wrongdoing from him.

Credit: Source link

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