@cbsnews: It was the summer of 2017 when Thomas Franco met Carlos Watson, a journalist and political commentator who seemed to be building a media empire. Over the next five years, Franco — a partner at the New York private equity firm Clayton, Dubilier & Rice — put almost $4 million into Watson's startup Ozy Media and urged friends to invest too. But the company was largely an illusion. A federal jury in Brooklyn convicted Watson of fraud in July 2024. A judge later ordered him to repay investors almost $37 million, millions of it to Franco. Hours before Watson was due to report to prison in March of last year, President Trump commuted his nearly 10-year sentence. The clemency grant wiped away the restitution. Franco is just one of the many crime victims who may never recover money a court ordered they be repaid. #restitution #pardon #trump #news #investigation

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2026-10-27 17:01:10

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