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Read previewAttorneys began jury selection in the criminal fraud trial of Carlos Watson, the cofounder of the fallen digital media startup Ozy Media. This story is available exclusively to Business Insider subscribers. Carlos Watson is a Black man and Ozy Media was majority-owned by people of color." AdvertisementAttorneys for Watson did not immediately respond to a request for comment from Business Insider on Monday. Semafor co-founder, former New York Times columnist, and BuzzFeed News editor in chief Ben Smith and Ozy co-founder Carlos Watson.
Persons: , Carlos Watson, Watson, Watson's, Semafor, Ben Smith, Ozy, Dia Dipasupil, Kimberly White, Marc Lasry, Laurene Powell Jobs, Ron Conway, Axel Springer, Smith, Samir Rao, Suzee Han, Goldman Sachs Organizations: Service, Ozy Media, Business, Prosecutors, Apple, Google, Vice Media, New York Times, Goldman Locations: Brooklyn , New York, Buzzfeed
Ozy Media CEO Carlos Watson was charged with two federal criminal counts of fraud and one count of identity theft, according to court documents released Thursday. The news came after former operating chief Samir Rao and chief of staff Suzee Han pleaded guilty in the case. The Securities and Exchange Commission also accused Watson and Ozy of widespread fraud. For example, Sharon Osbourne told CNBC that Ozy Media had lied about the Osbourne family investing in the startup. CNBC was the media partner for Ozy Media's Ozy Fest 2019, which was canceled due to extreme heat.
CNN —Carlos Watson, the founder and chief executive of the embattled Ozy Media, was arrested and charged with fraud this week, according to federal court records. Watson was accused in a federal indictment of having “engaged in a scheme to defraud OZY’s investors, potential investors, potential acquirers, lenders and potential lenders.”The charges said that Watson committed the fraud “through material misrepresentations and omissions” about Ozy Media, including the company’s finances, investors, business partners, contracts, and potential acquisitions. A spokesperson for Ozy Media did not immediately respond to a request for comment Thursday morning. The charges come after The New York Times published an exposé in 2021 pulling back the curtain on some of the alleged deceptive practices Ozy Media engaged in. Semafor reported earlier this month that Ozy Media was attempting a comeback.
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