The former chief executive of MoviePass’ parent company has pleaded guilty to charges of security fraud and conspiracy and could face up to 25 years in prison. Theodore Farnsworth “engaged in schemes to defraud investors,

The former chief executive of the parent company of MoviePass, Theodore Farnsworth, pleaded guilty to charges of securities fraud and conspiracy.

A Florida man pleaded guilty today,” began a Department of Justice press release published on Tuesday. In this case, the ever-infamous Florida Man is none other than Ted Farnsworth, the former CEO of MoviePass’ parent company.