Ozy Media Founder Takes the Stand to Deny Fraud Allegations

Carlos Watson, a co-founder of the digital media start-up Ozy Media, testified on Monday at his fraud trial that he had not conspired to trick investors.

Instead, he said, his young media company employed strategies to build partnerships, secure advertising revenue and draw in investors.

“We really thought we had a chance to do something special that could be around a long time,” Mr. Watson told the jury.

Mr. Watson’s testimony is the center of his defense against charges that he misrepresented his company’s financial results, fund-raising and audience data to investors and lenders from 2018 to 2021. The prosecution has called a variety of witnesses, including prospective investors who testified that Mr. Watson had misled them about the company in an attempt to secure funding.

Mr. Watson, who has pleaded not guilty to all the charges against him, could face up to 37 years in prison if convicted.

Speaking before a jury in federal court in Brooklyn, he denied purposely misleading anyone.

Mr. Watson, who is also a former MSNBC anchor, stressed his personal commitment to the media start-up, which he said had included financial investments and salary cuts to demonstrate he was “all in.”