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Khalid Itum, a former executive at the film ticket subscription service MoviePass, has been arrested over allegations that he embezzled money to pay off debts related to a Coachella party, according to the U.S. attorney's office for the Central District of California.
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The old adage if it sounds too good to be true, then it probably isn’t still rings true when it comes to MoviePass, which ultimately resulted in a criminal indictment charging two.
MoviePass’s former CEO and the leader of its former parent company have been indicted on securities fraud charges for deceiving investors on the sustainability and profitability of the company’s movie-a-day subscription model, according to a Department of Justice release on Friday.
Former MoviePass executives face fraud charges localnews8.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from localnews8.com Daily Mail and Mail on Sunday newspapers.
MoviePass s former CEO and the leader of its former parent company have been indicted on securities fraud charges for deceiving investors on the sustainability and profitability of the company s movie-a-day