February 28, 2024

A former govt at movie show subscription service MoviePass Inc. has been discovered responsible of embezzling no less than $260,000 from MoviePass and its guardian firm to repay cash he borrowed to fund an occasion on the Coachella music pageant, the Justice Division introduced Friday, Feb.2

Khalid Itum, a 43-year-old man from Hollywood, was a MoviePass govt from November 2017 to March 2019, in accordance with proof offered on the trial. MoviePass, acquired by an information analytics firm known as Helios & Matheson Analytics (HMNY) in 2017,  charged month-to-month subscribers a price in change for credit they might use on film tickets from any theater in MoviePass’s community.

Within the spring of 2017, Itum registered Kaleidoscope Productions LLC, a Los Angeles-based firm that supplied manufacturing and advertising and marketing providers, the DOJ’s assertion mentioned.