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Ozy Media co-founder Carlos Watson on Monday was sentenced to nearly 10 years in prison for his role in defrauding investors by lying about the company’s finances.

Watson was convicted of securities and wire fraud charges in July, after he helped inflate the company’s revenue numbers, and touted deals and offers that were nonexistent or still being finalized, according to the Associated Press. He pleaded not guilty to the crimes, and continues to maintain his innocence.

The former executive faced a maximum sentence of 37 years in prison, per NBC News. Prosecutors were seeking 17 years.

“The quantum of dishonesty in this case is exceptional,” U.S. District Judge Eric Komitee said, later telling Watson: “Your internal apparatus for separating truth from fiction became badly miscalibrated.”

Watson has claimed that he was the victim of “selective prosecution” as a black entrepreneur in the tech and media industry, and said any misrepresentation of the company was done by other people. But one employee claimed Watson had coached him.

Two other Ozy employees, including the other co-founder, have pleaded guilty for their role in the scandal, and testified against Watson.

The company was founded in 2012, and tried to sell itself as a business and news company that was targeted for millennials.  It eventually dissolved in 2021.

 Misty Severi is an evening news reporter for Just the News. You can follow her on X for more coverage.