Carlos Watson and his supporters are asserting that President Donald Trump has commuted the nearly 10-year prison sentence that he received after being convicted of extensive fraud in operating his digital media startup Ozy Media.
In a lengthy statement, Watson thanked Trump and reiterated that he had been targeted for prosecution by competitors.
“I am profoundly grateful to President Trump for correcting this grave injustice. His decision reflects his unwavering commitment to fairness and justice for those who have been wrongfully targeted. The prosecution of Ozy and me was driven by a malicious campaign orchestrated by a jealous competitor at a rival media company,” Watson said in a statement issued Friday.
Watson was sentenced to 116 months in prison in December following his conviction on charges of securities fraud, conspiracy to commit wire fraud and aggravated identity theft. It’s understood that Watson was en route to surrendering himself to federal prison authorities when he received the call alerting him that his petition for a commutation had been granted.
The case was handled by the office of Trump’s newly appointed “pardon czar,” Alice Marie Johnson. Watson’s cause was championed by activist and entrepreneur Glenn E. Martin, who trumpeted Trump’s decision in an X post.
The White House did not immediately respond to a request for comment.
Watson faced federal fraud charges after his Ozy Media digital media startup collapsed as shocking stories of brazen fraud in the operation of the company emerged. The most extreme case that garnered the attention federal prosecutors in New York came in a 2021 New York Times report that Watson’s partner in Ozy Media, Samir Rao, had impersonated executives of major media companies as the pair sought to raise capital from investors.
Rao pleaded guilty to securities fraud and wire fraud charges, and testified against Watson. He was sentenced to probation.
Watson launched Ozy Media in 2013, raising $30 million to publish a website, newsletters and video content. According to evidence at trial, the company struggled to succeed, and Watson was forced to take on debt and seek additional investment. Prosecutors argued that Watson routinely lied about the company’s revenue and its revenue projections, thereby swindling investors out of millions of dollars.
Watson was convicted on all counts.
He and his allies pushed back aggressively on the charges before, during and after the trial. A website — tooblackforbusiness.org — argued that Watson was “railroaded” by a biased judge, and cast the case in racial terms, saying it was part of “America’s history of tearing down Black excellence.”
In February, Watson was ordered to pay $96 million in restitution and forfeiture.
Here is Watson’s full statement issued late Friday:
“I am profoundly grateful to President Trump for correcting this grave injustice. His decision reflects his unwavering commitment to fairness and justice for those who have been wrongfully targeted. The prosecution of OZY and me was driven by a malicious campaign orchestrated by a jealous competitor at a rival media company. These baseless federal cases were pursued 3,000 miles away from where OZY was based, and things went from bad to worse when a conflicted and unethical judge took control. Judge Komitee excluded critical exculpatory evidence, including cooperator confession letters, blocked defense witnesses from testifying, and gave the jury incorrect instructions – all while holding millions in shares in companies whose CEOs were testifying for the prosecution just feet from his chair.
“President Trump has once again demonstrated his courage in standing up against the weaponization of the legal system by unscrupulous actors who aim to destroy innovative companies and their founders. OZY, with its cutting-edge, award-winning programming, 200+ clients, and talented team, was on the brink of becoming Silicon Valley’s first Black-owned publicly traded company before these wrongful actions derailed our progress.
“We are ready to move forward, guided by the lessons learned. I am especially thankful to President Trump’s Pardon Czar, Miss Alice Marie Johnson, whose commitment to justice and second chances continues to inspire me. Her belief in fairness and second chances reflects the best of what our country stands for. I look forward to supporting her pioneering work in any way I can.
“I also want to extend my deepest gratitude to my wonderful family, friends, and key advisors who stuck by me through thin and thinner. Your unwavering support has meant everything to me, and I couldn’t have made it through this four-year odyssey without you.
“What happened to OZY and me is, unfortunately, far too common. I will dedicate myself to ensuring that others who face similar injustices have the chance to be heard and treated fairly.”
