No Result
View All Result
China Secrets Revealed
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock
No Result
View All Result
China Secrets Revealed
No Result
View All Result
Home Economy

Former Ozy Media head sentenced to nearly 10 years in prison

by
December 17, 2024
in Economy
0
Former Ozy Media head sentenced to nearly 10 years in prison

The former head of Ozy Media has been sentenced to 10 years in prison for his role in an alleged fraud involving the failed content startup.

Carlos Watson was facing a maximum of 37 years in prison after his July conviction on securities and wire fraud charges. Prosecutors had sought a 17-year sentence and multimillion-dollar forfeiture to the government.

“The quantum of dishonesty in this case is exceptional,” U.S. District Judge Eric Komitee said in handing down the sentence, according to The Associated Press. He later told Watson: “Your internal apparatus for separating truth from fiction became badly miscalibrated.”

Watson pleaded not guilty to the charges and has continued to maintain his innocence.

The rise and fall of Ozy closely tracked the broader internet media bubble of the 2010s. The group attempted to ride the investment wave generated by the likes of BuzzFeed and Vice, which were attracting billions in venture capital.

Both of those firms have themselves faced financial reckonings: BuzzFeed narrowly avoided being delisted from the stock market, while Vice filed for bankruptcy.

During the Watson trial, a former lieutenant explained the pressures Ozy came under to stay afloat — and the boundaries it crossed to do so.

“Survival within the bounds of decency, fairness, truth, it morphed into survival at all costs and by any means necessary,” former Ozy Chief Operating Officer Samir Rao told jurors, saying that Watson had sanctioned all his falsehoods. Rao himself pleaded guilty.

This post appeared first on NBC NEWS
Previous Post

Senate advances NDAA, teeing up final passage for annual defense policy bill

Next Post

Trump and Japan tech conglomerate SoftBank announce $100 billion in U.S. investments

Next Post
Trump and Japan tech conglomerate SoftBank announce $100 billion in U.S. investments

Trump and Japan tech conglomerate SoftBank announce $100 billion in U.S. investments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Trump breaks ground on massive White House ballroom project with private funding from ‘patriots’

Trump breaks ground on massive White House ballroom project with private funding from ‘patriots’

0
TD Cowen downgrades Molson Coors, lowers price target to $58: Is it time to exit?

TD Cowen downgrades Molson Coors, lowers price target to $58: Is it time to exit?

0
Google’s antitrust ruling draws parallels to Microsoft’s 25-year-old case: Here’s how

Google’s antitrust ruling draws parallels to Microsoft’s 25-year-old case: Here’s how

0
In 2023, Colorado Lawmakers Pushed Back on Cops Practicing Pain Medicine Based on Flawed CDC Guideline

In 2023, Colorado Lawmakers Pushed Back on Cops Practicing Pain Medicine Based on Flawed CDC Guideline

0
Trump breaks ground on massive White House ballroom project with private funding from ‘patriots’

Trump breaks ground on massive White House ballroom project with private funding from ‘patriots’

October 21, 2025
‘It’s a joke’: White House dismisses ‘No Kings’ protests, while Nancy Pelosi rips crown in defiance

‘It’s a joke’: White House dismisses ‘No Kings’ protests, while Nancy Pelosi rips crown in defiance

October 21, 2025
Trump admin agencies coordinating to expose Biden admin’s ‘prolific and dangerous’ weaponization of government

Trump admin agencies coordinating to expose Biden admin’s ‘prolific and dangerous’ weaponization of government

October 20, 2025
Senate Dems emboldened by weekend rallies block GOP plan to end shutdown for 11th time

Senate Dems emboldened by weekend rallies block GOP plan to end shutdown for 11th time

October 20, 2025

Recent News

Trump breaks ground on massive White House ballroom project with private funding from ‘patriots’

Trump breaks ground on massive White House ballroom project with private funding from ‘patriots’

October 21, 2025
‘It’s a joke’: White House dismisses ‘No Kings’ protests, while Nancy Pelosi rips crown in defiance

‘It’s a joke’: White House dismisses ‘No Kings’ protests, while Nancy Pelosi rips crown in defiance

October 21, 2025
Trump admin agencies coordinating to expose Biden admin’s ‘prolific and dangerous’ weaponization of government

Trump admin agencies coordinating to expose Biden admin’s ‘prolific and dangerous’ weaponization of government

October 20, 2025
Senate Dems emboldened by weekend rallies block GOP plan to end shutdown for 11th time

Senate Dems emboldened by weekend rallies block GOP plan to end shutdown for 11th time

October 20, 2025

Disclaimer: ChinaSecretsRevealed.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.

Copyright © 2024 ChinaSecretsRevealed. All Rights Reserved.

No Result
View All Result
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock

Copyright © 2024 ChinaSecretsRevealed. All Rights Reserved.