Carlos Watson participates in "The Contenders: 16 for 16″ panel during the PBS Television Critics Association summer press tour, July 29, 2016, in Beverly Hills, Calif. Watson, founder of the troubled digital start-up Ozy Media, was arrested Thursday, Feb. 23, 2023 on fraud charges as part of a scheme to prop up the financially struggling company, which hemorrhaged millions of dollars before it shut down amid revelations of possibly deceptive business practices. Photo: Richard Shotwell/Invision/AP Lawyers for Ozy Media and CEO 'Disappointed' by Timing of Arrest in Fraud Case
According to the indictment, the defendants impersonated executives from different companies to communicate with financial institutions after they had misrepresented Ozy's relationships with the larger companies.
February 23, 2023 at 06:02 PM
3 minute read
Technology Media and Telecom
Attorneys representing the startup Ozy Media and its CEO Carlos Watson on Thursday said they were disappointed that Brooklyn federal prosecutors went ahead with indictments against their clients, who had reportedly been in discussions with the government as recently as Wednesday.
Watson was arrested Thursday morning on charges of conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft. Ozy was also charged with conspiracy to commit securities fraud and conspiracy to commit wire fraud.
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