The son of a fishing family in Saltmarsh, Ozwald in his youth tried to bolster his family's wealth by taking his personal life savings to the Ivory Rook, the newly opened tavern and gaming den run by the House of Vice. Unfortunately for the young fox, the house won every game. As he was about to leave, the gamemasters offered him their usual offer for dejected gamblers: a no questions asked loan, available NOW. He didn't realize that the loan carries an exorberantly high intrest rate.

Now, Ozwald sails as a crew member of the Water Bear, constantly looking for treasure to pay off his loan and clear his name from the Vice's Black Book.