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Former MoviePass CEO admits the $9.95 ‘unlimited’ ticket scheme was fraud
Unlimited movies were too good to be true.
With the plea, Lowe admits to making false representations about the sustainability of a $9.95 monthly plan that promised “unlimited” access to movies in theaters. These representations, which were made to artificially inflate HMNY’s stock price and fraudulently attract new investors, were materially false and misleading... “Mitch is a good man who is looking to move forward with his life,” Lowe’s attorneys, Margot Moss and David Oscar Markus, said in a statement to Variety.
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