Ex-MoviePass Exec Indicted for Wire Fraud, Money Laundering (1)

Former MoviePass Inc.Vice President Khalid Itum has pleaded not guilty to federal allegations he embezzled $260,000 from the company to repay debts for producing an event at the Coachella music festival.

Itum, charged with two counts of wire fraud and two counts of money laundering, entered his plea following his arrest Tuesday at the US Courthouse in Los Angeles, US Attorney Martin Estrada said in a press statement issued Wednesday. Itum was released on $75,000 bond, Estrada said. A trial has been scheduled for April 18. His electronic case docket remains under seal.

Itum worked for the flat-fee movie ...