(NewsNation) —The trial of former MSNBC anchor Carlos Watson, who is charged with trying to defraud investors in his digital start-up, Ozy Media, began Monday.

Watson, who founded the company in 2013, was arrested in February 2023 and charged with fraud and aggravated identity theft. He’s pleaded not guilty to all charges against him. If convicted, he faces up to 37 years in prison.

On Monday, Magistrate Marcia Henry said the trial won’t start until May 28, The Daily Best reported. She added that the trial is expected to run until the end of July and is expected to run until the end of July, the outlet reported.

The New York Times reports it’s unclear what Watson’s defense will be when the trial begins or if he will take the stand. However, his lawyer has argued in court filings that the trial is unusual, stating allegations involved “puffing and bluffing” practiced by the founders of other media outlets. His lawyer also argued that prosecutors are singling out Watson for punishment because he’s Black, the outlet reported.

In 2021, a New York Times column raised questions about the media organization’s claims of millions of viewers and readers, while also pointing out a potential case of securities fraud.

The story triggered canceled shows, an internal investigation, investor concern and high-level departures at the company before it shut down.

The New York Times story also said Ozy’s chief operating officer and co-founder, Samir Rao, impersonated a YouTube executive on a call with Goldman Sachs while attempting to raise money from the investment bank.

The Associated Press contributed to this report.