Carlos Watson, the founder of digital media company Ozy Media, has been sentenced to 116 months in prison after being found guilty of fraud. The sentencing comes after Watson was accused of misleading investors and lenders about the company’s financial health to secure millions of dollars in funding.
Prosecutors argued that Watson and his associates fabricated audience metrics, revenue figures, and other key data to present a false image of Ozy Media’s success. These misrepresentations led to substantial losses for investors who had placed their trust in the company.
In addition to the prison term, Watson has been ordered to pay restitution to the victims, although the exact amount has yet to be determined.
The case gained widespread attention due to Ozy Media’s high-profile partnerships and appearances in the digital media landscape. The sentencing underscores the legal risks associated with fraudulent business practices in the startup and media sectors.
Watson’s legal team has indicated plans to appeal, arguing that the punishment is excessive. However, prosecutors maintain that the sentence reflects the severity of the fraud and the need to deter similar offenses.
