U.S. President Donald Trump has commuted Ozy Media founder Carlos Watson's nearly 10-year prison sentence for defrauding investors in his now-defunct startup, the White House said on Friday. Watson, a former cable news anchor and investment banker,

Carlos Watson, the founder and former CEO of Ozy Media, is not going to prison after all. Watson, who was sentenced to 116 months, or nearly ten years, in prison for conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft has had his prison sentence commuted by President Trump.

Carlos Watson, who started the now-defunct digital media company, had been sentenced to almost 10 years in prison for trying to defraud investors and lenders.