Trump Commutes Prison Sentence for Ozy Media’s Carlos Watson (1)

Ozy Media co-founder Carlos Watson, who was set to begin serving his nearly 10-year prison term for lying to investors in his startup, had his term commuted by President Donald Trump on Friday, according to a senior White House official.

Watson was convicted last July by a federal jury in Brooklyn, New York, of a wire fraud conspiracy, securities fraud and aggravated identity theft for a scheme to con investors out of tens of millions of dollars.

Carlos Watson in New York in December.

Photographer: Yuki Iwamura/Bloomberg

He was sentenced in January to 116 months in prison and ordered to forfeit almost $60 million and pay more than ...