U.S. President Donald Trump has commuted Ozy Media founder Carlos Watson's nearly 10-year prison sentence for defrauding investors in his now-defunct startup, the White House said on Friday. Watson, a former cable news anchor and investment banker,

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.

President Donald Trump commuted the sentence of Ozy Media co-founder Carlos Watson on Friday, just hours before Watson was due to report to prison for a nearly 10-year sentence in a financial conspiracy case.