Etienne Uzac
Etienne Uzac (born 1984) is a French-American media entrepreneur and businessman who co-founded the New York-based digital media company International Business Times (IBT) in 2006. Under Uzac's leadership as CEO, the company expanded to include publications such as Medical Daily, Latin Times, Player One and Fashion Times. By 2013, the company had grown significantly, employing 200 people and attracting millions of visitors to its websites.
Acquisition of Newsweek[edit]
In 2013, IBT acquired the weekly newsmagazine Newsweek, expanding its media portfolio.[1]
Legal Issues[edit]
In January 2018, Uzac faced legal challenges following an investigation by the Manhattan District Attorney’s Office regarding allegations of fraud and money laundering. The investigation focused on accusations that Uzac misrepresented the financial health of Newsweek and was involved in creating false financial documents. IBT’s Manhattan offices were raided as part of this investigation.[2]
In February 2018, Uzac and Marion Kim, the company's finance director and Uzac's wife, both resigned from their positions at IBT amidst the legal proceedings.[3]
On February 14, 2020, Uzac pleaded guilty in Manhattan Criminal Court to charges related to fraud and money laundering. This plea allowed him to avoid incarceration. IBT, the owner of Newsweek at the time, also pleaded guilty to fraud.[4]
References[edit]
- ^ "IAC Sells Newsweek to Digital News Publisher IBT Media". Forbes. August 3, 2013. Archived from the original on 30 May 2023.
- ^ "A Former Owner of Newsweek Pleads Guilty in a Fraud Scheme". The New York Times. February 14, 2020. [dead link]
- ^ "Chair of Embattled Newsweek Media Group Resigns". CNN Business. February 1, 2018. [dead link]
- ^ "Ex-Newsweek Owner Dodges Jail After Pleading Guilty in Money-Laundering Scandal". The New York Post. February 14, 2020. Archived from the original on 6 January 2024.