Earnings Mastery
  • Politics
  • Business
  • Investing
  • World
No Result
View All Result
  • Politics
  • Business
  • Investing
  • World
No Result
View All Result
Earnings Mastery
No Result
View All Result
Home Business

Trump commutes sentence of Ozy Media founder Carlos Watson

March 30, 2025
in Business
Trump commutes sentence of Ozy Media founder Carlos Watson
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

President Donald Trump commuted the criminal sentence of Ozy Media founder Carlos Watson on Friday, just hours before Watson was due to begin serving a 116-month prison term for a multi-million-dollar scheme that included falsely claiming the start-up had deals with Google and Oprah Winfrey, a senior White House official said.

Watson had expected to surrender Friday afternoon to the Federal Correctional Institution in Lompoc, California, before he received word of Trump granting him executive clemency, according to a source familiar with the situation.

Trump also commuted the sentence of one year of probation imposed on Ozy Media for the defunct news and entertainment company’s conviction in the same case.

Trump’s actions remove the criminal penalty imposed on Watson and Ozy.

Watson, 55, was convicted at trial in Brooklyn federal court last July of conspiracy to commit securities fraud, conspiracy to commit wire fraud, and aggravated identity theft. He was sentenced in December.

In February, a federal judge ordered Watson and Ozy to pay almost $60 million in forfeiture and more than $36 million in restitution.

Watson’s defense attorney, Arthur Aidala, declined to comment Friday when contacted by CNBC.

A spokesman for the Brooklyn U.S. Attorney’s Office, which prosecuted Watson, also declined to comment on the commutation of his sentence.

Glenn Martin, a criminal justice reform advocate, in a tweet on Friday wrote, “We did it,” above a photo of him and Watson.

“President Trump commuted the sentences of Ozy Media and Carlos Watson hours before his surrender,” the tweet said.

″@CarlosWatson is not going to prison today,” Martin wrote.

“First and foremost, thank God for His grace, mercy and the power of redemption. A very special note of appreciation to @AliceMarieFree,” he added, referring to his fellow criminal justice reform advocate Alice Marie Johnson.

“Your advocacy, compassion, and relentless pursuit of fairness have made this moment possible for people like Carlos.”

When Watson was sentenced, then-Brooklyn U.S. Attorney Breon Peace said, “Carlos Watson orchestrated a years-long, audacious scheme to defraud investors and lenders to his company, Ozy Media, out of tens of millions of dollars.”

Prosecutors said that Watson and his co-conspirators between 2018 and 2021 defrauded investors by misrepresenting Ozy’s financial performance, its ongoing business relationships and its acquisition prospects, as well as its contract negotiations.

Ozy abruptly shut down in October 2021, after The New York Times reported that the company’s chief operating officer, Samir Rao, had impersonated a YouTube executive on a conference call with Goldman Sachs.

The investment bank was considering a $40 million investment in Ozy at the time.


This post appeared first on NBC NEWS

Previous Post

Toncoin breaks out after Grok AI integration into Telegram: will TON price hit $6?

Next Post

FCC is investigating Disney and ABC for DEI initiatives

Next Post
FCC is investigating Disney and ABC for DEI initiatives

FCC is investigating Disney and ABC for DEI initiatives

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    Bristol Myers CEO explains why he’s spending billions on BioNTech deal

    June 3, 2025
    Here’s why private equity stocks like Blackstone, KKR, Apollo have crashed

    Here’s why private equity stocks like Blackstone, KKR, Apollo have crashed

    June 3, 2025
    Nifty 50 Index patterns point to more gains ahead of RBI rate cut

    Nifty 50 Index patterns point to more gains ahead of RBI rate cut

    June 3, 2025
    Singapore’s cross-border interconnections set to unlock 25 GW of new renewable capacity, says Rystad

    Singapore’s cross-border interconnections set to unlock 25 GW of new renewable capacity, says Rystad

    June 3, 2025
    European markets open: Stoxx 600 turns lower amid tariff jitters; German DAX, UK FTSE -0.1%

    European markets open: Stoxx 600 turns lower amid tariff jitters; German DAX, UK FTSE -0.1%

    June 3, 2025
    Vietnam firms to sign $2B deal for US agricultural products

    Vietnam firms to sign $2B deal for US agricultural products

    June 3, 2025

    Disclaimer: EarningsMastery.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Popular

    PepeX gains steam Ethereum and Solana prices crash

    PepeX gains steam Ethereum and Solana prices crash

    March 30, 2025

    Latest

    Bristol Myers CEO explains why he’s spending billions on BioNTech deal

    June 3, 2025
    Here’s why private equity stocks like Blackstone, KKR, Apollo have crashed

    Here’s why private equity stocks like Blackstone, KKR, Apollo have crashed

    June 3, 2025
    Nifty 50 Index patterns point to more gains ahead of RBI rate cut

    Nifty 50 Index patterns point to more gains ahead of RBI rate cut

    June 3, 2025
    • About us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 earningsmastery.com | All Rights Reserved

    No Result
    View All Result
    • Politics
    • Business
    • Investing
    • World

    Copyright © 2025 earningsmastery.com | All Rights Reserved