Carlos Watson Testifies in Fraud Trial

Carlos Watson, a co-founder of Ozy Media, a digital media start-up, took the stand on Monday in his fraud trial, vehemently denying allegations of conspiring to deceive investors. He maintained that the company utilized strategic approaches to form partnerships, secure advertising revenue, and attract investors, aiming to establish a long-lasting presence in the media industry.

In response to charges accusing him of misrepresenting Ozy Media’s financial performance, fundraising activities, and audience metrics between 2018 and 2021, Mr. Watson defended his actions. The prosecution presented various witnesses, including potential investors who claimed they were misled by Mr. Watson in pursuit of financial backing.

Mr. Watson, who entered a plea of not guilty to all charges, faces a potential sentence of up to 37 years in prison if convicted. Addressing the jury in a federal court in Brooklyn, he refuted any intentional deceit, emphasizing his personal dedication to Ozy Media. He highlighted his financial investments and salary reductions as evidence of being fully committed to the company.