Ozy Media founder Carlos Watson was found guilty last year of lying to investors about the news and entertainment company's finances and sham deals with Google and Oprah Winfrey.

Former President Donald Trump has commuted the prison sentence of Ozy Media co-founder Carlos Watson, just before he was scheduled to begin serving a nearly ten-year term. Last summer, Watson was convicted of fraud by a Brooklyn federal jury.

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.