Is Ozy's Carlos Watson Pulling the Race Card or Is He Unjustly Being Persecuted for Fraud?
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NEW YORK, NY - JULY 21: Carlos Watson speaks onstage during OZY FEST 2018 at Rumsey Playfield, Central Park on July 21, 2018 in New York City. (Photo by Matthew Eisman/Getty Images for Ozy Media)
Being Black in America, you come to a fast realization that bias and racial discrimination exist all throughout society. That idea is even more true when it comes to the legal system. So when someone from the community wages allegations of inequity, it really isn’t all that hard to believe – especially when they are established and respected.
For Carlos Watson, founder and CEO of Ozy Media, this is the exact scenario he never wanted to find himself in. Prior to launching Ozy in 2012, Watson carved a successful career as journalist and television host, contributing to major networks like CNN and MSNBC.
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Watson issued a statement on social media following his arrest and said he was being unjustly targeted.
“This has been a life’s work and I am proud of what I, my family, and my team have been able to accomplish. I’m not saying I haven’t made mistakes – I have. But it’s fair to ask, why I’ve been singled out,” he wrote on Linkedin.
In a subsequent post, Watson noted several instances of Black men on the ascent in their respective fields who were suddenly derailed by accusations of fraud. He mentioned Joseph Jett, a former securities trader at Kidder, Peabody & Co, who faced and was acquitted of fraud charges in 1998 by the SEC shortly after being named Man of the Year.
Watson also pointed to Calvin Griggsby, co-founder of Grigsby Brandford & Co., a prestigious Black-owned investment firm, who was found not guilty of bribery charges in 1999, as further evidence of a targeted campaign against successful Black men.
“Sometimes people of color are warned not to think too big. That the color of your skin will limit what you hope to accomplish,”Watson said. “Our mistakes are being turned into crimes and we’re having people charge us in a gross and inappropriate way.”
The details of Watson’s indictment included emails from a former Ozy CFO who outright called his moves felonious and refused to take part in impersonating a cable network company in order to secure a loan from a bank. That financial institution later reported the incident.
“On multiple occasions, when faced with questions from lenders or potential investors, Watson and his co-conspirators assumed the identities of and impersonated actual media company executives to cover up their prior fraudulent misrepresentations,” the indictment read.
Samir Rao, Ozy’s chief operating officer, and Suzee Han, Ozy’s chief of staff, have pleaded guilty for their roles in the scheme.
Black, White, Green
If there’s one thing the United States government takes seriously, it’s money. Fraud indictments and convictions are all too common in the U.S. In January 2022, billionaire biotech engineer Elizabeth Holmes was found guilty on fraud charges and sentenced to 11 years in prison for deceiving investors about the capabilities of her company’s blood analyzing technology. She’s also on the hook for $452 million in restitution.
Meanwhile, former President Donald Trump finds himself at the center of what could be the most contentious fraud case of our generation. Yet, Watson’s assertion that the extent of his charges and the potential consequences are race-related carries a valid point.
Despite facing a staggering fine of $250 million, if convicted, Trump, unlike Watson, is not facing nearly 40 years in prison for committing fraud in New York.
In a time where spaces for Black voices, issues and achievement are few and far in between, the fall of Ozy Media is no doubt a tragic one. But the story remains unwritten and could very well continue if Watson is somehow able to overcome allegations waged by the U.S. government.
“And while I’m not a martyr, I do care about the next generation. I do care that other young entrepreneurs like me, other young Black entrepreneurs like me don’t continue to face the same crazy odds that I face. The same overcharging and selective prosecution that has hit so many of us,” Watson said in the Linkedin post.
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