The former head of Ozy Media has been sentenced to 10 years in prison for his role in an alleged fraud involving the failed content startup.

Carlos Watson was facing a maximum of 37 years in prison after his conviction in July on securities and wire fraud charges. Prosecutors had sought a 17-year sentence and a multimillion-dollar forfeiture to the government.

“The quantum of dishonesty in this case is exceptional,” U.S. District Judge Eric Komitee said in handing down the sentence, according to The Associated Press. He later told Watson: “Your internal apparatus for separating truth from fiction became badly miscalibrated.”

Watson pleaded not guilty and has continued to maintain his innocence.

The rise and fall of Ozy closely tracked the broader internet media bubble of the 2010s. The group sought to ride the investment wave generated by the likes of BuzzFeed and Vice, which were attracting billions in venture capital.