Ozy Media Founder Convicted of Fraud

Carlos Watson, the former TV personality and CEO of Ozy Media, has been convicted in a federal financial conspiracy case involving fraud and deception of investors. Watson was found guilty of conspiracy to commit securities fraud, wire fraud, and aggravated identity theft, with prosecutors alleging that he falsified information about the company's finances and made inflated earnings projections. The collapse of Ozy Media was triggered by revelations of fabricated contracts, impersonation of a YouTube executive, and misleading statements to investors. Despite Watson's denial of involvement and blaming his co-founder, the jury's verdict emphasized his role in the fraudulent activities, leading to his conviction.