Carlos Watson and Ozy Media have been found guilty on all counts in a multi-million dollar fraud scheme. U.S. Attorney Breon Peace issued a statement following the verdict, emphasizing the gravity of the offenses.
"The defendants, Carlos Watson and Ozy Media, engaged in a brazen scheme to defraud investors out of millions of dollars," Peace stated. "This verdict sends a clear message that those who engage in such fraudulent activities will be held accountable."
The case has drawn significant attention due to the high-profile nature of the defendants and the substantial financial implications involved. The prosecution argued that Watson and his company misled investors through false representations about Ozy Media's financial health and business prospects.
Peace further remarked, "Our office is committed to pursuing justice for victims of financial fraud and ensuring that perpetrators face the consequences of their actions."
The trial proceedings highlighted various aspects of the alleged fraud, including misleading statements made to potential investors and inflated claims about Ozy Media's audience reach and revenue figures.
"This conviction demonstrates our dedication to protecting investors from deceitful practices," said Peace. "We will continue to work tirelessly to uphold the integrity of our financial markets."
The sentencing phase will follow, where penalties for Watson and Ozy Media will be determined based on the severity of their offenses.