Carlos Watson, the founder of the defunct media and entertainment company Ozy Media, was given a term of almost ten years in prison for fabricating information about the business to draw in investors.
The former MSNBC broadcaster and former Goldman Sachs banker was accused by prosecutors of masterminding a multi-year plan that cost investors “tens of millions of dollars” in damages.
According to the court, Watson and other Ozy Media employees lied to investors about the company’s financial standing, celebrity connections, and acquisition potential.
Watson said he intends to appeal the decision and maintains his denial of the accusations.
Watson was sentenced to 116 months in prison by United States District Judge Eric R. Komitee for conspiring to commit securities fraud, conspiring to commit wire fraud, and aggravated identity theft.
