Securities fraud : Ozy Media
The perpetrators of fraud and white-collar crime often rely on the general public ’ s lack of knowledge to further their illicit activities . This case is a clear example of the greed that surrounds us every day and opportunistic individuals who have exploited the system . According to the U . S . Securities and Exchange Commission ( SEC ), COO Samir Rao , CEO Carlos Watson , Jr ., Chief of Staff Suzee Han and Ozy Media were charged with defrauding investors in a multiyear $ 50 million scheme . Their scheme was devised to defraud Ozy ’ s investors and lenders by falsely representing the company ’ s financial assets , business associations and fundraising endeavors . 5 Watson also was charged with identity theft for attempting to impersonate media executives , while Ozy Media was also charged with wire fraud . 6 In its press release , the SEC , which conducted the investigation , noted its appreciation for the FBI and the U . S . Attorney ’ s Office for the Eastern District of New York for their assistance with the case . 7
Julie and Todd Chrisley ( pictured left and second from left ), stars of the reality show Chrisley Knows Best , were found guilty of bank and wire fraud in 2022 .
WENN Rights Ltd / Alamy Stock Photo
Hot off the press : Financial fraud case studies Bank and wire fraud : The Chrisleys
Todd Chrisley and Julie Chrisley made the Internal Revenue Services ’ ( IRS ) “ Top Ten List of the Biggest Cases in 2022 .” 1 The Chrisleys , who are known for their reality TV show Chrisley Knows Best , were both found guilty on federal charges of bank fraud and wire fraud in June of 2022 . They brazenly victimized others through their fraudulent schemes , which included fabricating and producing false bank statements when applying for loans , and hid their wealth from the IRS while continuing to flaunt a lavish lifestyle . During the investigation , it was discovered that the Chrisleys failed to pay half a million dollars in taxes that were owed to the government . They were also found guilty of conspiracy to defraud banks out of more than $ 36 million in fraudulent loans . 2
In November of 2022 , Todd Chrisley was sentenced to 12 years in federal prison and Julie Chrisley was sentenced to seven years in federal prison for bank and wire fraud . 3 In a statement , Keri Farley , special agent in charge of the Federal Bureau of Investigation ( FBI ) in Atlanta noted that her agency was “ proud to work with our law enforcement partners at the IRS and the U . S . Attorney ’ s office to pursue and prosecute individuals that are driven by greed to evade the law .” 4
Carlos Watson Jr ., CEO of Ozy Media , his company and several colleagues were charged with defrauding investors of $ 50 million . Watson was also charged with identity theft .
dpa Picture-Alliance / Alamy Stock Photo
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