Mitch Lowe Guilty of Fraud
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MoviePassVerge
•Former MoviePass CEO admits the $9.95 ‘unlimited’ ticket scheme was fraud
70% Informative
Mitch Lowe pleaded guilty to securities fraud on Monday .
He admitted to making false representations about MoviePass's $ 9.95 monthly plan.
The plan was a temporary marketing gimmick to drive subscriber growth.
MoviePass shut down in 2019 and later filed for bankruptcy.
Lowe faces up to five years in prison for his part in the scheme.
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