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U.S. District Judge Eric R. Komitee sentenced Watson to 116 months in prison for conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft.
“Carlos Watson orchestrated an audacious, years-long scheme to defraud his company’s investors and lenders,” said Breon Peace, U.S. Attorney for the Eastern District of New York.
“His incessant and deliberate lies demonstrated not only a blatant disregard for the rule of law, but also a disregard for the values of honesty and justice.”
Watson will remain free for now on $3m (£2.3m) bail.
He pleaded not guilty but was found guilty in July after an eight-week trial.
In court, Watson said he was a businessman who believed in what his company did and had put in every effort to try to make it a success.
His lawyer had argued that he was betrayed by his aides, who acted of their own free will and hid their wrongdoing from him.
