Ozy Media CEO Carlos Watson, arrested last week on federal fraud charges, urged a California court to compel his insurer to pay for his legal bills, saying he doesn’t have enough money to defend himself.
Clear Blue Financial Holdings had issued a $1 million directors and officers insurance policy to Ozy and Watson. The insurer sued them in 2021 to avoid paying defense costs after a scathing New York Times report about Ozy’s capital-raising efforts, including a claim that an Ozy executive impersonated a Youtube executive to inflate social media figures.
“Absent immediate injunctive relief compelling Clear Blue to ...
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