American Daddy Trader
  • Politics
  • Business
  • Stock
  • Editor’s Pick
  • Politics
  • Business
  • Stock
  • Editor’s Pick

American Daddy Trader

Business

Trump commutes sentence of Ozy Media founder Carlos Watson

by admin March 30, 2025
March 30, 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
Silver Cross Index Tops Beneath Signal Line on SPY
next post
Danish official strikes back at Vance’s Greenland comments: ‘We do not appreciate the tone’

You may also like

Women’s college basketball final expected to set new...

April 7, 2024

Pennsylvania Sen. Casey warns Amazon, Target and Walmart...

June 24, 2024

Lucid CEO says Wall Street misinterpreted $1.75 billion...

October 23, 2024

Fed minutes point to ‘likely’ rate cut coming...

August 23, 2024

From Chili’s to burger chains, here are the...

December 17, 2024

Amazon hikes wages for contract delivery drivers as...

September 14, 2024

Southwest cuts growth plans, warning effect of Boeing...

April 26, 2024

Three Mile Island nuclear plant to help power...

September 21, 2024

NFL-backed group lines up ‘Sunday Ticket’ streaming for...

July 4, 2024

How In-N-Out Burger’s president runs her fast-food empire:...

April 18, 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

    • Earnings Watch: Smart Setups in HD, PANW, and BJ

      May 20, 2025
    • Not All Price Gaps Are the Same! Here’s How to Trade Them

      May 20, 2025
    • Trump hails cooperative effort at anti-revenge porn bill signing: ‘Bipartisanship is still possible’

      May 20, 2025
    • Trump calls Biden’s cancer diagnosis ‘very sad’ while questioning timeline: ‘Wasn’t informed’

      May 20, 2025
    • Schumer ripped for placing blame on Trump, DOGE for deadly Mexican Navy crash in NYC: ‘He is an idiot’

      May 20, 2025

    Archives

    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024

    Categories

    • Business
    • Editor's Pick
    • Politics
    • Stock
    • Uncategorized
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 americandaddytrader.com | All Rights Reserved