During closing arguments Thursday, defense attorneys for Ozy Media and former CEO Carlos Watson denied claims by federal prosecutors that Watson led an effort to make flippant misrepresentations about company finances to investors.
Instead, Watson attorney Ronald S. Sullivan argued all blame should be placed on co-founder Samir Rao. “This case was about a crooked cofounder named Samir Rao,” Sullivan said Thursday, "who lied, who undermined and who betrayed Carlos Watson.”
Rao, former chief operating officer, and Suzee Han, onetime chief of staff, each pleaded guilty to charges last year and are now cooperating with the government in the criminal fraud case against Ozy and its CEO. Both were named alongside Watson in a separate lawsuit filed by the U.S. Securities and Exchange Commission.
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