Breaking news from the Department of Justice: Ted Farnsworth, the ex-CEO of MoviePass’ parent company, has officially pleaded guilty in a recent case. This development follows closely behind another guilty plea from former MoviePass CEO Mitch Lowe.
Farnsworth admitted to charges of securities fraud and conspiracy to commit securities fraud. The potential consequences include a maximum of 20 years in prison for one charge and up to five years for the other. A sentencing date will be determined soon.
The DOJ accused Farnsworth, aged 62, of deceiving investors in Helios & Matheson Analytics (HMNY), MoviePass’ former parent company. Allegations include providing false information about HMNY and MoviePass to boost stock prices and attract investors.
This situation echoes the previous guilty plea from Mitch Lowe…
2025-01-08 13:06:03
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