SEC sues former MoviePass executives for fraud - Engadget

Sep 27, 2022 · The SEC’s lawsuit also names former MoviePass business development executive Khalid Itum as a defendant. Itum allegedly pocketed $310,000 by submitting false invoices to the company.

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SEC Sues Former MoviePass Executives For Fraud - Engadget

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Ex-MoviePass Executives Sued For Fraud Following Collapse (2)

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Two former MoviePass Inc. executives misled investors by promising they could turn a profit charging theater-goers just $9.95 a month for unlimited tickets, the US Securities and …

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Former MoviePass Executive Ted Farnsworth Pleads Guilty To …

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Jan 7, 2025 · MoviePass's $10 plan led to its popularity but was unsustainable, causing bankruptcy. Ted Farnsworth pleaded guilty on Tuesday to defrauding investors in the movie …

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MoviePass Exec Ted Farnsworth Pleads Guilty To Securities Fraud

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Jan 7, 2025 · Ted Farnsworth, the architect of MoviePass' $9.95-a-month subscription service, pleaded guilty Tuesday to conspiracy and securities fraud.

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FAQs about SEC sues former MoviePass executives for fraud - Engadget Coupon?

Who is suing MoviePass execs for fraud?

The U.S. Securities and Exchange Commission has sued former top execs at MoviePass and its parent company, Helios + Matheson, for fraud. A complaint filed this week with the U.S. District Court for New York’s southern district (read it here) centers on Ted Farnsworth and Mitch Lowe. ...

Was 'MoviePass' a securities fraud scheme?

“Farnsworth’s plans and promises for MoviePass seemed too good to be true — they were in fact part of a securities fraud scheme,” said James Dennehy, the assistant director in charge of FBI’s New York field office. “As he admitted [Tuesday], Farnsworth’s ploys and boasts were actually lies and misrepresentations designed to boost stock prices.” ...

Did MoviePass mislead investors?

The US Securities and Exchange Commission has filed a lawsuit against two former MoviePass executives. In a federal complaint seen by Bloomberg, the agency accused Theodore Farnsworth and Mitch Lowe on Monday of misleading investors about the viability of the company’s $9.95 per month business model. ...

Did MoviePass' CEO make false claims to the public?

Former MoviePass CEO J. Mitchell Lowe and Theodore Farnsworth, former CEO of majority stakeholder Helios and Matheson Analytics Inc., allegedly made false claims to the public and in regulatory filings. ...

Who owns MoviePass?

MoviePass was led by Mitchell Lowe, the chief executive, and Theodore Farnsworth, right, then chief executive of Helios + Matheson, the parent company. Mr. Farnsworth pleaded guilty to securities fraud on Tuesday. Isaac Brekken for The New York Times ...

Did MoviePass lied to investors?

Ahead of the official of subscription-based movie ticketing service MoviePass, the Securities and Exchange Commission (SEC) filed a complaint against three of its former executives, claiming they lied to investors and the public. ...