Federal agents on Friday arrested Billy McFarland, the businessman behind the botched Fyre Festival, on charges of wire fraud.
McFarland’s arrest comes about two months after the event ― which was billed as an ultra-luxurious music festival on a private island in the Bahamas with gourmet catering, supermodels and tickets that cost up to $250,000 ― turned out to be a disorganized mess.
Joon Kim, the acting Manhattan U.S. attorney, said in a press release Friday that McFarland, 25, “promised a ‘life changing’ musical festival but in actuality delivered a disaster.”
Federal prosecutors believe that McFarland gave investors fake documents to convince them to invest more than a $1 million in his company and the festival. Wire fraud charges can carry a sentence of up to 20 years, though McFarland, who has no prior record, will likely receive a lesser sentence.
Ja Rule’s attorney, Stacey Richman, told The New York Times that the rapper has not been arrested in connection with the federal charges against McFarland. “We don’t perceive him to be a subject of this investigation,” Richman said.
Aside from the federal charges, multiple lawsuits have been filed against Ja Rule and McFarland.
Latest posts by Dave Brooks (see all)
- Zac Brown Takes a Pay-It-Forward Approach to Concert Ticketing - July 20, 2018
- The Thr33: EAMC 2019 Will Be in Toronto, Ellen Schwartz Named GM of LACC, & SMG Celebrates First Year of Innovation Team - July 11, 2018
- Report Says Other Retailers Impacted by Scammers Linked to Ticketmaster Breach - July 11, 2018