Former MoviePass CEO Theodore Farnsworth pleads guilty to fraud, risks 25 years in prison - PRESS AI WORLD
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Former MoviePass CEO Theodore Farnsworth pleads guilty to fraud, risks 25 years in prison

share-iconThursday, January 09 comment-icon1 week ago 9 views
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Former MoviePass CEO Theodore Farnsworth pleads guilty to fraud, risks 25 years in prison

Credited from: CNN

  • Theodore Farnsworth, the former CEO of MoviePass’ parent company, has pleaded guilty to securities fraud and conspiracy.
  • The US Department of Justice reported that Farnsworth engaged in misleading schemes to defraud investors while leading Helios and Matheson Analytics.
  • His actions allegedly involved false representations that inflated the company's stock price between 2017 and 2019.
  • Farnsworth could face up to 25 years in prison, with sentencing to be determined later.
  • His former colleague, J. Mitchell Lowe, also pleaded guilty to similar charges and awaits sentencing.

For further details, visit the original article here.

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Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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