MoviePass' owner was created by an Indian company

[BusyBalraju]

https://www.businessinsider.com/moviepass-owner-emerged-from-indian-company-accused-of-massive-fraud-2018-7

- Helios and Matheson Information Technology, a defunct Indian tech company, stands accused in its home country of defrauding at least 5,000 creditors, including banks and senior citizens.

- Helios and Matheson Analytics (HMNY), the owner of the popular movie-theater subscription service MoviePass, was created by HMIT over a decade ago, after HMIT bought and renamed a New York consulting firm.

- HMNY's CEO, Ted Farnsworth, downplayed the connection between the two companies to Business Insider, but at least two veteran HMIT executives occupy high-level positions at the MoviePass owner.

- HMIT owned about 39% of HMNY in 2016, but that percentage has dwindled to less than 1% this year, primarily because of dilution. Still, in November, HMIT managed to cash out 170,000 shares of HMNY worth about $2.2 million at the time.

- Muralikrishna Gadiyaram, HMIT's CEO who signed the November stock sale, is still on the board of HMNY despite being accused of fraud in India and having his and HMIT's bank accounts frozen there.

- In March, the State Bank of India accused HMIT in a complaint to Indian investigators of using Maruthi Consulting, another company it acquired in the 2000s, to siphon money out of India with the "evil intention of defrauding our bank." The cofounder of Maruthi Consulting, Parthasarathy "Pat" Krishnan, is HMNY's chief innovation 

 

[r2d2]

Not that it matters.. Murlaikrishna Gadiyaram is an IIM-A alumni...

[Yaman02]

13 minutes ago, r2d2 said:

Not that it matters.. Murlaikrishna Gadiyaram is an IIM-A alumni...

The colleagues of Muralikrishna Gadiyaram

Company Colleagues

 

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