Between 2018 and 2021, Ozy Media and its founders lied to investors about the company's debts and other pertinent financial information, according to prosecutors.
Ozy Media billed itself as"the New and the Next" as its charismatic cofounder, former MSNBC and CNN host Carlos Watson, attracted millions of dollars from investors on a promise to attract young, sophisticated audiences.
Later, she was excused from what is expected to be a complex and sprawling case involving hundreds of thousands of documents and allegations that the company's executives misrepresented its financial standing and the size of its audience.Founded in California's Silicon Valley in 2013, Ozy marketed itself as a progressive digital platform, providing a place for fresh perspectives on news, culture entertainment, business and technology.
The company shut down in 2021, a week after a report by the New York Times detailed an episode in which the company's chief operating officer impersonated a YouTube executive during a pitch to Goldman Sachs, which had been considering infusing money into the media enterprise.in late February accusing Watson and the company of bilking investors. Watson was also charged with identity theft over the alleged impersonation of several media executives.
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