*Former talk show host Carlos Watson will spend nearly a decade behind bars after being sentenced in a federal financial conspiracy case.
We reported earlier that the Ozy Media founder was accused of defrauding “investors of tens of millions of dollars through fraudulent misrepresentations and impersonated media company executives during negotiations,” per the United States Attorney’s Office of the Eastern District of New York, via TheWrap. This past summer, the TV host was convicted of fraud by a Brooklyn federal jury and on Monday he was sentenced to ten years in prison.
CNBC reported that the California-based news and entertainment company allegedly misled investors about its finances and fabricated deals with Google and Oprah Winfrey. Watson, 55, was arrested and indicted in February on charges of securities fraud and wire fraud conspiracy. He pleaded not guilty, with his lawyer claiming he was unaware of misconduct by subordinates acting independently
Ozy Media collapsed in 2021 after a New York Times exposé on the company prompted the feds to examine the company’s business practices. It was discovered that Watson’s former partner, Samir Rao, impersonated a YouTube executive during a fundraising call with Goldman Sachs Group Inc. Rao ultimately pleaded guilty to fraud charges.
“Ozy Media ultimately collapsed under the weight of Watson’s dishonest schemes and with today’s verdict, Watson himself has been held accountable for his brazen crimes,” Brooklyn US Attorney Breon Peace said in a statement, per CNN.
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Watson previously said that the case was an attack against Black entrepreneurs.
“Sometimes people of color are warned not to think too big. That the color of your skin will limit what you can hope to accomplish,” Watson said in a video posted to X (formally Twitter). “Like a lot of black entrepreneurs, I had trouble often getting through the door or getting meetings that they took seriously.”
He added, “Our mistakes are being turned into crimes and we’re having people charge us in a gross and inappropriate way.”
According to CNBC, Watson reportedly called the case “a modern lynching” in court Monday and told the judge he was a target of “selective prosecution” as a Black businessman in Silicon Valley.
“I loved what we built with Ozy,” he said.
Watson faced a mandatory minimum sentence of two years and up to 37 years. Prosecutors sought a 17-year sentence and multimillion-dollar forfeiture to the government. He is currently free on a $3 million bond and is required to report to prison in the coming months. He plans to appeal.
READ MORE FROM EURWEB.COM: Ozy Media Founder Carlos Watson Convicted of Fraud in New York Trial | VIDEO
