Back to today’s briefing

Story perspectives

Ex-MoviePass CEO Pleads Guilty to Fraud, Faces 25 Years

1/8/2025

42 3

Summary

Story summary

Ted Farnsworth, ex-CEO of MoviePass, pleaded guilty to securities fraud and conspiracy.
He deceived investors regarding the viability of the $9.95 subscription plan, contributing to MoviePass's 2020 bankruptcy.
Farnsworth could face a maximum of 25 years in prison and has been in federal custody since August 2023.
He also admitted guilt in a conspiracy related to a separate scheme with Vinco Ventures.

1 of 1

Story summary

Ted Farnsworth, ex-CEO of MoviePass, pleaded guilty to securities fraud and conspiracy.
He deceived investors regarding the viability of the $9.95 subscription plan, contributing to MoviePass's 2020 bankruptcy.
Farnsworth could face a maximum of 25 years in prison and has been in federal custody since August 2023.
He also admitted guilt in a conspiracy related to a separate scheme with Vinco Ventures.