Google CEO Sundar Pinchai testified at the federal financial conspiracy trial involving Ozy Media, refuting founder Carlos Watson's claims of a potential buyout by Google. Pinchai revealed that Google had considered hiring Watson for a senior news executive role in 2021 and investing $25 million in Ozy to facilitate his transition. However, Pinchai denied ever offering to purchase Ozy for $600 million.
Prosecutors alleged that Watson falsely claimed Pinchai had made a nine-figure buyout offer to another investor. Ozy Media, known for producing TV shows, podcasts, and a festival, faced scrutiny in 2021 over alleged misrepresentations of its audience reach and finances, leading to its collapse.
Watson and Ozy Media have pleaded not guilty to fraud charges, with Watson maintaining that any misrepresentations were entrepreneurial missteps. Co-founder Samir Rao, who pleaded guilty to fraud-related charges, testified that ambition and pressure to succeed led to deceptive practices within the company.
Rao admitted to posing as a YouTube executive during a call with Goldman Sachs bankers to falsely promote Ozy. The deception was uncovered when the bankers contacted the real YouTube executive, leading to the termination of a potential investment deal.
Despite the incident, Goldman Sachs continued advertising with Ozy. Watson informed the board that Rao had experienced a mental health crisis during the episode. Rao acknowledged taking antidepressants at the time but denied having a psychiatric breakdown.
