<ul><li>Ted Farnsworth, former CEO of MoviePass' parent company, pleads guilty to securities fraud and conspiracy to commit securities fraud.</li><li>Farnsworth misled investors about the viability of the $9.95 per month subscription model for MoviePass.</li><li>He falsely claimed that the company used artificial intelligence (AI) to monetize subscriber data, although it possessed no such technology.</li><li>The Department of Justice warns against 'AI washing' and vows to protect investors from fraudulent schemes.</li></ul>

DOJ Warns Against AI Washing as Ex-MoviePass CEO Pleads Guilty

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