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Sundar Pichai Takes the Stand in Ozy Media’s Fraud Trial

The Alphabet Inc. CEO Testifies under Oath

In the high-stakes fraud trial of Ozy Media Inc. co-founder Carlos Watson, Alphabet Inc. Chief Executive Officer Sundar Pichai stepped up to the witness stand. He denied allegations that he agreed to buy Ozy for a significant amount of money, painting a picture of a company that was failing to materialize.

The allegations:

Watson and Chief Operating Officer Samir Rao, who has pleaded guilty, are accused of defrauding investors of tens of millions of dollars. According to the prosecution, Watson lies about Ozy’s business success by boasting that Alphabet’s Google has offered to buy the company for "hundreds of millions of dollars." The once high-flying media startup collapsed after the New York Times revealed that Rao impersonated a senior executive at Google’s YouTube unit on a conference call with Goldman Sachs Group Inc. bankers.

Pichai’s testomy:

Pichai unequivocally denied that Google and Alphabet ever discussed acquiring Ozy. He did, however, mention that the company considered hiring Watson as the head of its news programming. "We were considering making an investment in Ozy Media to make the transition easier" Watson was a critical part of the organization.

The investment, and the lie:

Prosecutors showed that Watson used the fake acquisition deal as a way to attract another Ozy investor, claiming that they invested $20 million into Ozy after being told of Google’s offer. "That was a lie, but Watson did not let the truth get in his way," said prosecutor Dylan Stern in his opening statement.

Golden evidence:

Goldman’s Moerman and Berardo discussed their experience on the February 2nd conference call, where Rao voiced altered his voice to impersonate Alex Piper, a YouTube executive.

"What I heard was one of the most disturbing calls I’ve been on my career," Moerman testified

As the trial unfolds, jurymen are learning not just about the alleged fraud schemes and lies but also about Moerman’s surreal experience. Meanwhile, Ozy’s chief of staff pleaded guilty and is cooperating.

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