Former MoviePass Execs Charged in Alleged Fraud Scheme to Boost Stocks – CNET

The Justice Department’s indictment, unsealed Friday, alleges that then-CEO and Chairman of HMNY Theodore Farnsworth along with then-CEO of MoviePass J. Mitchell Lowe knew the service’s $10-a-month plan was unprofitable, but publicly said it was “tested, sustainable, and would be profitable or break even on subscription fees alone,”

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