Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

Business

Trump commutes sentence of Ozy Media founder Carlos Watson

by March 29, 2025
March 29, 2025
Trump commutes sentence of Ozy Media founder Carlos Watson

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
Faye Hall, American detained by Taliban, has been released
next post
Danish official strikes back at Vance’s Greenland comments: ‘We do not appreciate the tone’

Related Posts

Here’s what has driven the Dow rally to...

May 18, 2024

SEC dropping crypto lawsuit, Coinbase says

February 22, 2025

Affirm announces JPMorgan Chase merchants can now offer...

March 26, 2025

CVS is under pressure and considering a breakup....

October 6, 2024

JPMorgan CEO Jamie Dimon hopes for soft landing...

April 30, 2024

TNT’s ‘Inside the NBA’ headed for ESPN and...

November 18, 2024

Key fed inflation gauge cools to its slowest...

June 28, 2024

California homeowners allege home insurance companies colluded to...

April 23, 2025

Amazon owes $525 million in cloud-storage patent fight,...

April 16, 2024

Starbucks’ new CEO will supercommute 1,000 miles from...

August 21, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • FLASHBACK: Comey had another anti-Trump seashell photo moment during 2024 election

      May 16, 2025
    • New House GOP resolution eviscerates Comey over ’86 47′ Instagram post

      May 16, 2025
    • Trump-appointed federal judge rules against Biden-era sex-based employment discrimination guidance

      May 16, 2025
    • Nvidia says it is not sending GPU designs to China after reports of new Shanghai operation

      May 16, 2025
    • Trump appointee Barrett challenges administration on nationwide injunctions, surprises and delights liberals

      May 16, 2025
    • Senators sound off as Supreme Court hears case on nationwide injunctions

      May 16, 2025

    Categories

    • Business (1,215)
    • Politics (5,572)
    • Stocks (904)
    • World News (455)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.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 insidersadvisor.com | All Rights Reserved