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.

Prosecutors said Carlos Watson deceived investors and lenders by inflating revenue numbers and suggesting deals were final when they were not. He had been sentenced to 10 years in prison.

Convicted fraudster Carlos Watson says President Trump has commuted his 10-year prison sentence connected to his digital media startup Ozy Media.