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.
The verdict follows a six-week trial that featured testimony by two former Watson deputies, who pleaded guilty to fraud.
Ozy folded shortly after The New York Times reported on former chief operating officer Samir Rao’s impersonation of the YouTube executive.
He said prosecutors’ view of Ozy’s finances was simplistic and failed to appreciate the nuances of media industry dealmaking.
Persons:
Carlos Watson, Oprah Winfrey, Watson, Ozy, Goldman Sachs, Prosecutors, “, Breon Peace, Samir Rao’s, Rao, Alex Piper, Sundar Pichai, Watson’s, “ That’s, that’s, ”
Organizations:
Ozy Media, Google, “ Ozy Media, New York Times, YouTube, Ozy
Locations:
Brooklyn, California