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Fyre Festival organizer Billy McFarland arrested and charged with fraud
MacFarland is facing “one count of wire fraud,” potentially 20 years in prison
Just when you thought it couldn’t get any worse for Fyre Festival organizer Billy McFarland, the young “capitalist and entrepreneur” was arrested on Friday on account of wire fraud.
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Allegedly connected with an illegitimate scheme to defraud investors, Billy’s company, also known as Fyre Media, includes misrepresenting its financial information to the line up of things they should not have done in the run up to their disastrous foray in the Bahamas.
After leaked email correspondence regarding the event confirmed the state of affairs were sour from the beginning, Joon H. Kim, Acting U.S. Attorney for Manhattan, stated that, “McFarland promised a ‘life changing’ music festival but in actuality delivered a disaster. McFarland allegedly presented fake documents to induce investors to put over a million dollars into his company and the fiasco called the Fyre Festival. Thanks to the investigative efforts of the FBI, McFarland will now have to answer for his crimes.”
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Releasemag is your online source of underground dance culture. Featuring all aspects of culturally-relevant content such as music, video, style, fashion, artists and events across the globe.
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