Get the latest tech news
Ted Farnsworth, Architect of Failed MoviePass Plan, Pleads Guilty to Defrauding Investors
Ted Farnsworth, the architect of MoviePass' $9.95-a-month subscription service, pleaded guilty Tuesday to conspiracy and securities fraud.
Farnsworth also pleaded to a conspiracy charge for a second scheme involving a non-existent video sharing platform, which the government alleges he secretly organized while under investigation in the MoviePass case. “It was important for Mr. Farnsworth to accept responsibility for his conduct and he took the first step by entering a guilty plea this day,” his attorney, Sam Rabin, said via email. Behind the scenes, the government alleged that the executives took measures to attempt to throttle the service, forcing high-volume users to reset their passwords and verify their ticket purchases.
Or read this on r/technology
