New SEC lawsuit accuses MoviePass executives of fraud [TechSpot]

View Article on TechSpot

The US Securities and Exchange Commission (SEC) is suing three former MoviePass executives for fraud. The SEC alleges that Theodore Farnsworth and Mitch Lowe misled investors when selling them on the MoviePass business model using false information. A third exec, Khalid Itum, is accused of taking $310,000 from the company…