Ozy Media's Carlos Watson found guilty of fraud

• While Ozy's tactics to inflate audience metrics and mislead investors were extreme (and illegal), they served as a wake-up call to digital media executives who might have been skirting the line of deception.

The big picture: Watson tried to argue in court that his colleagues were at fault, and that his efforts to raise money through exaggerated figures were not different than those of other digital media startup. The jury disagreed.

Details: The jury, which deliberated for three days, convicted Watson of wire fraud, securities fraud conspiracy, and aggravated identity theft, per The New York Times.

• He now faces up to 37 years in prison.

Flashback: Watson was arrested and charged last year, after Ozy Media co-founder Samir Rao pleaded guilty to authorities.

• Rao and another ex-Ozy Media executive cooperated with prosecutors, which hurt Watson's attempts to deflect blame.

Go deeper: How Ozy fell