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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.
Two former executives at MoviePass and its parent company face federal criminal charges for allegedly defrauding investors.
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
The former CEOs of MoviePass and its parent company have been charged with fraud, according to the Justice Department.
Former MoviePass CEO J. Mitchell Lowe and former CEO of its parent company HMNY Theodore Farnsworth each face up to 80 years in prison