Carlos Watson, the cofounder of the collapsed media firm Ozy Media, was found guilty of misleading investors by falsifying financial records and business deals.
Carlos Watson and the now-shuttered Ozy Media startup he cofounded were found guilty of fraud by a federal jury on Tuesday, as reported earlier by The New York Times. Over the course of a several-weeks-long trial, the jury heard the government’s claims that Ozy Media misled investors by falsifying financial records, inflating audience numbers, and even making up business deals. Watson, the former CEO of Ozy Media, cofounded the company alongside Samir Rao in 2013.
Rao pleaded guilty to related charges last year and is awaiting sentencing. Additionally, prosecutors alleged that Watson lied to a prospective investor by saying that Google offered $600 million to take over the media startup. According to testimony from Google CEO Sundar Pichai, the company only considered investing $25 million as part of a potential plan to hire Watson. During the trial, Watson’s lawyers blamed Rao and Ozy Media’s employees for the fraudulent activity, NYT reports.
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