Farnswoth entered the plea in the Southern District of Florida.
As he admitted today, Farnsworths ploys and boasts were actually lies and misrepresentations designed to boost stock prices.
It was no surprise in fact when MoviePass lost money from the plan.
MoviePass
But Farnsworth knew it did not possess these capabilities or technologies.
Farnsworth pleaded guilty to one count of securities fraud and one count of conspiracy to commit securities fraud.
The sentencing hearing has not yet been scheduled.
The other company in the case was Vinco Ventures.
