SEC Obtains Final Judgments Against Former Ozy Media Executives

SEC Litigation Releases

Filed March 18th, 2026

Detected March 24th, 2026

Summary

The SEC has obtained final consent judgments against former Ozy Media executives Samir Rao and Suzee Han, resolving litigation over alleged misrepresentations to investors. The judgments permanently enjoin them from violating antifraud provisions and include officer/director bars for Rao.

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What changed

The Securities and Exchange Commission announced that final judgments have been entered against former Ozy Media COO Samir Rao and former Chief of Staff Suzee Han. These judgments resolve litigation initiated in February 2023, which alleged that the defendants raised approximately $50 million from investors through misrepresentations about Ozy Media's financial condition and business relationships. Specifically, Rao allegedly provided false financial information inflating annual revenue by over 100 percent, and Han assisted in disseminating these statements.

The final judgments permanently prohibit Rao and Han from violating antifraud provisions under the Securities Act of 1933 and the Securities Exchange Act of 1934. The judgment against Rao includes a three-year bar from serving as an officer or director of any public company, a modification from a previously imposed ten-year bar. This action serves as a reminder to companies and their executives about the severe consequences of misrepresenting financial information to investors and the potential for permanent bars from corporate leadership roles.

What to do next

Review internal controls for financial reporting and investor communications.
Ensure accuracy of financial statements and business representations made to investors.
Consult legal counsel regarding potential officer and director bar implications.

Penalties

Permanent injunctions from violating antifraud provisions; Samir Rao is barred from acting as an officer or director of any public company for three years.

Source document (simplified)

Ozy Media, Inc.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No.26506 / March 24, 2026

Securities and Exchange Commission v. Ozy Media, Inc., et al., No. 1:23-cv-01424 (E.D.N.Y. filed Feb. 23, 2023)

SEC Obtains Final Consent Judgments as to Former Ozy Media Executives

On March 18, 2026, the United States District Court for the Eastern District of New York entered final judgments as to former COO of Ozy Media, Inc., Samir Rao, and its former Chief of Staff Suzee Han, resolving the Commission’s litigation against them.

The SEC’s complaint, filed on February 23, 2023, alleged that four defendants raised approximately $50 million from investors through repeated misrepresentations concerning Ozy Media's financial condition, business relationships, and fundraising efforts. As alleged, Rao provided prospective investors with false financial information that vastly inflated Ozy Media's annual revenue by at least 100 percent annually from 2018 through 2020 and Han helped to prepare and disseminate these false statements to investors.

The final judgments permanently enjoin Rao and Han from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The final judgment as to Rao also imposes a three-year bar prohibiting him from acting as an officer or director of any public company, modified from the ten-year bar that had been previously imposed on March 14, 2023.