Fraudulent Failure: Infamous Ozy Media head Carlos Watson has learned his fate

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As a whole the internet has produced some of the most memorable fraud schemes of all time. Among those are none other than Carlos Watson of Ozy Media.

The Lowdown

According to reports, the infamous fraudster has been found guilty of wire fraud and conspiracy receiving a hefty sentence of 10 years in prison. Watson was convicted last summer in a sprawling conspiracy case after the reality behind Ozy Media a once sought after media firm was actually revealed.

Watson’s charges according to his court case are steep: conspiracy to commit securities fraud, conspiracy to commit wire fraud, and aggravated identity theft.

Watson had prior to Monday been free on $3m bond. He had initially been looking at a maximum of 37 years in prison.

What happened?

Ozy Media was once a darling among the media landscape online. To investors, readers, and employees Carlos Watson and Ozy had at the time become a breakout star and company. But in reality, according to prosecutors who argued the case, Watson was nothing more than a serial habitual liar who had faked it till he made it.

Except it was all a rouse. Watson as the story goes had been lying to investors, and executives were impersonating other executives, but an insane call resulted in a YouTube executive being impersonated for the benefit of material promotional support for the company. That phony call didn’t just culminate in Watson ‘s downfall but the entire company as a whole.