Former MoviePass CEO Mitch Lowe Pleads Guilty to Securities Fraud Conspiracy
By Gene Maddaus
Former MoviePass CEO Mitch Lowe pleaded guilty Monday to a securities fraud charge, admitting that he conspired to deceive the public and investors about the sustainability of the company’s $9.95-a-month movie subscription service.
Lowe, 72, faces a maximum of five years in federal prison. Under his plea agreement, made public on Monday, Lowe agreed to cooperate with prosecutors and regulators, which could result in a reduced sentence.
“Mitch is a good man who is looking to move forward with his life,” said his attorneys, Margot Moss and David Oscar Markus, in a statement. “He has accepted responsibility for his actions in this case and will continue to try to make things right.”
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