Ozy Media Co-Founder Testifies in Fraud Trial, Denies Conspiracy to Deceive Investors

On Tuesday, during his trial, Carlos Watson, co-founder of Ozy Media, firmly denied any involvement in a scheme to deceive investors. He insisted that his company had implemented strategies aimed at forging partnerships, ensuring advertising income, and attracting investors. "We genuinely believed that we had the opportunity to create something extraordinary with long-term potential," Mr. Watson asserted to the jury.

Facing Allegations

At the core of his defense are allegations that Mr. Watson had provided false information about Ozy Media's financial performance, fundraising activities, and audience metrics to potential investors and creditors from 2018 to 2021. The prosecution presented several witnesses, including prospective investors who claimed that they had been misled by Mr. Watson regarding the company's status in a bid to secure financial backing.