YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Theodore Farnsworth, the former CEO of MoviePass' parent company, has pleaded guilty to securities fraud.
The federal government has alleged Farnsworth misled investors about the company's "unlimited" movie subscription service.
Farnsworth is facing up to 20 years in prison for the fraud scheme related to his leadership of Helios and Matheson, which held a majority stake in MoviePass. He's also slated to serve five years for a conspiracy count related to his leadership of Vinco Ventures Inc., another publicly traded company.
Read more from The New York Times.
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