Mitch Lowe, the former CEO of MoviePass, has pleaded guilty to a conspiracy involving securities fraud.
Lowe's actions as CEO, which included a popular but unsustainable $10-a-month movie ticket subscription plan, led to MoviePass and its parent company going bankrupt in 2020.
Lowe faces up to five years in prison for his role in deceiving investors and the public about the company's financial health.
This guilty plea comes after the Department of Justice charged Lowe and the former CEO of MoviePass's parent company with securities fraud in 2022.
