Black Americans immediately realize that racism and prejudice are rampant. In court, this is particularly true. Inequality claims by recognized community members are easy to trust.
Ozy Media founder and CEO Carlos Watson never expected this circumstance. Watson founded Ozy in 2012 after working as a journalist and TV host for many networks.
Ozy Fest debuted in 2016 with Cory Booker, Issa Rae, and Bill Gates. President Joe Biden, Mark Cuban, and Hillary Clinton attended later. Despite COVID-19-related challenges, the company seemed to be recovering.
In February 2023, the FBI detained Watson in New York on fraud charges that may result in a 37-year sentence. The Eastern District of New York indicted Watson for scamming investors with fake contracts and impersonation.
Watson complained online following his arrest that he was unjustly targeted.
“I am proud of my family, team, and lifetime achievements. I made mistakes. He wrote on media that it’s fair to question why I was picked out.
Watson wrote in a subsequent post about several rising Black guys who were suddenly derailed by fraud claims. He mentioned Joseph Jett, a former Kidder, Peabody & Co securities trader awarded Man of the Year and exonerated of wrongdoing by the SEC in 1998.
Watson highlighted Calvin Griggsby, co-founder of Grigsby Brandford & Co., a notable Black-owned investment firm, who was acquitted of bribery in 1999, as an example of a purposeful attempt against successful Black men.
Sometimes, minorities are advised not to dream big. Watson said skin tone limits success. Our mistakes are transformed into crimes, and we’re unfairly charged.”
Watson’s indictment contains emails from a former Ozy CFO who called him felonious and refused to impersonate a cable network operator for a bank loan. The financial institution reported the incident.
According to the indictment, Watson and his co-conspirators impersonated media business personnel to cover up their false misreport presentations while responding lender or investor questions.
Head operating officer Samir Rao and head of staff Suzee Han pleaded guilty to the scheme.
The US government cherishes money. American fraud convictions are common for misleading investors about her company’s blood analysis technology.Wealthy biotech engineer Elizabeth Holmes was sentenced to 11 years in prison in January 2022. She must pay $452 million in damages.
One of our generation’s most contentious fraud lawsuits involves former President Donald Trump. Watson is right about his race-related allegations and sanctions.
Trump, unlike Watson, does not face roughly 40 years in New York for fraud despite a $250 million fine.
Ozy Media’s downfall is tragic at a time of few Black voices, issues, and successes. If Watson beats U.S. accusations, the story may continue.
“While I’m no martyr, I care about the next generation. I fear that other young Black businesses don’t face my enormous odds. On LinkedIn, Watson stated overcharging and selective prosecution has affected many of us.