• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Trump commutes sentence of Ozy Media founder Carlos Watson
Editor's Pick

Trump commutes sentence of Ozy Media founder Carlos Watson

by March 29, 2025
by March 29, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Applebee’s owner Dine Brands to lean on value, marketing to reverse sales declines
  • Warren Buffett — worried about impersonators — says he doesn’t endorse candidates or investments
  • McDonald’s aims to open nearly 9,000 restaurants, add 100 million loyalty members by 2027
  • Returning a holiday gift? It could end up in a warehouse auction.
Share
0
FacebookTwitterPinterestWhatsapp

previous post
FCC is investigating Disney and ABC for DEI initiatives
next post
Volatility Ahead: What Investors Need to Know Right Now

You may also like

Hurricane Milton could reduce Disney earnings, Goldman says

October 9, 2024

Levi Strauss to sell Dockers to brand management firm Authentic...

May 20, 2025

Affluent Americans are driving U.S. economy and likely delaying need...

May 1, 2024

RTX, GE Aerospace expect more than $1 billion tariff impact

April 22, 2025

Feds announce nationwide crackdown on robocalls and telemarketing scams

July 19, 2023

FTX customers may get their money back, but not gains...

May 10, 2024

Amazon founder Jeff Bezos buys home in Miami’s ‘billionaire bunker.’...

August 12, 2023

Trump Media shares rise again, jump 50% in the past...

May 2, 2024

Embraer CEO says jet maker studying possibilities for a new...

October 21, 2024

Target will stop accepting personal checks

July 8, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Hedge Market Volatility with These Dividend Aristocrats & Sector Leaders

      June 2, 2025
    • What’s Next for Dollar Tree, CrowdStrike, and Broadcom? Watch These Setups

      June 2, 2025
    • The Best Five Sectors, #21

      June 2, 2025
    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,767 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,473 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,453 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,435 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,310 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,585)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Hedge Market Volatility with These Dividend Aristocrats & Sector Leaders

      June 2, 2025
    • What’s Next for Dollar Tree, CrowdStrike, and Broadcom? Watch These...

      June 2, 2025
    • The Best Five Sectors, #21

      June 2, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,585)

    Disclaimer: RoundTableThoughts.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 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    UPS shares tank 15% after weak...

    January 31, 2025

    Listings for Stanley tumblers are still attracting...

    January 25, 2024

    Abercrombie expects a strong holiday quarter...

    November 27, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here