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Ozy Media founder Carlos Watson arrested on fraud charges
Media company was shuttered in 2021 after huge losses and COO’s alleged impersonation during pitch to potential investorhttps://www.theguardian.com/media/2023/feb/23/ozy-media-founder-carlos-watson-arrested-fraud-charges
The founder of the startup Ozy Media was arrested on Thursday on fraud charges, more than a year after the troubled digital company shut down after losing millions of dollars.
Authorities say Carlos Watson misled investors and lenders to prop up the financially struggling company, conspired to commit securities fraud and wire fraud, and committed identity theft with his role in the impersonation of several media executives.
Police arrested Watson at a Manhattan hotel. Earlier this month, two of the company’s top executives pleaded guilty to fraud charges, including Ozy’s former chief operating officer, Samir Rao, who allegedly impersonated a YouTube executive during a pitch to a potential investor.
Between 2018 and 2021, Watson and his business partners attempted to defraud investors and lenders of “tens of millions of dollars through fraudulent misrepresentations and omissions” about the company’s debts and other key financial information, authorities say.
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