BALLSTON SPA — A Saratoga County Court jury has found the financial officer of the former Wurld Media Inc. guilty of three charges, including a felony count of falsifying business records.

Richard Saxton of Saratoga Springs will be sentenced in January, according to Saratoga County Assistant District Attorney Richard Wendling, who said the judge in the case has not indicated whether he will impose a prison sentence.

Saxton and Gregory Kerber of Cohoes were indicted in December on charges of second-degree and third-degree grand larceny, money laundering, falsifying business records and offering a false instrument for filing. Prosecutors said the men took assets from the company for their personal use and failed to pay benefits to employees.

The indictments followed a seven-month investigation by the Saratoga Springs Police Department and the state Department of Taxation and Finance.

Kerber pleaded guilty to the falsifying business records charge. He was sentenced in Saratoga County Court to probation.

Wendling said Saxton could face up to four years in prison on his convictions.

Wurld Media was an Internet-based company located on Putnam Street in Saratoga Springs that developed digital media file-sharing networks.

The company was started in the late 1990s and employed about 50 people at the peak of its operations.

The assets of the company were sold last year to the ROO Media Corp., an international online video solutions company with offices in the United States, Germany, England and Australia.

The total purchase price of the transaction was $4.3 million, consisting of $3.2 million in cash and the issuance of approximately 655,500 shares of ROO common stock, according to media releases at the time of the sale.

Wendling said Saxton’s trial lasted three weeks for a number of reasons, including the need of Judge Kelly McKeighan to return to his own courtroom in Washington County for several days.

The jury heard closing arguments on Monday and began deliberations that continued until after 8 p.m. Wednesday when they announced the verdict.

Saxton was found guilty of falsifying business records, failing to pay 401(k) benefits to employee accounts and criminal contempt for continuing to use assets after a judge ordered the accounts frozen.

During the trial, employees said as Wurld Media was collapsing, paychecks were called loans. The indictment against Saxton claimed that by calling the checks loans instead of wages, the company sought to avoid making income tax payments or other withholdings.