Trump commutes Ozy Media founder's fraud sentence
Trump commuted the sentence of Ozy Media founder Carlos Watson hours before Watson was due to report to prison on a fraud conviction.
What happened
Watson had been sentenced to nearly 10 years and ordered, with Ozy, to pay almost $60 million in forfeiture and over $36 million in restitution after a jury found the startup was built on fabricated numbers. The commutation followed lobbying from allies with access to the administration.
Why it matters
A convicted fraudster who defrauded investors of tens of millions avoided prison entirely through last-minute clemency, with reporting pointing to well-connected intermediaries who pressed his case to the White House.