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Ozy Media co-founder Carlos Watson has been accused of lying to investors about the startup's revenue to conceal its substantial debt, according to a federal prosecutor. The accusations were made during the closing arguments of Watson's fraud trial in New York. Watson and Ozy Media face charges of securities fraud and wire fraud conspiracy. Both have pleaded not guilty. A defense lawyer argued that Watson was betrayed by a top deputy who allegedly lied to investors and forged documents to hide the company's financial troubles. The prosecutor described the actions as 'massive fraud.'
A New York federal prosecutor told the jury weighing the fate of Carlos Watson that the evidence presented clearly shows the former Ozy Media CEO was at the helm of a scheme to deceive investors into backing the struggling news and entertainment startup. https://t.co/OA6Ux4pmjp
Ozy Media co-founder Carlos Watson lied to investors about the defunct startup's revenue to hide its crippling debt, a prosecutor said. Watson and Ozy are charged with securities fraud and wire fraud conspiracy. Both have pleaded not guilty https://t.co/krZWDcxp8e https://t.co/48GJwxeegV
Ozy Media's Carlos Watson was betrayed by lying co-founder, lawyer says as New York fraud trial closes https://t.co/Rc0JyPBbpd https://t.co/lndoKnnIc8
