Fyre Festival Organizer Billy McFarland Arrested And Charged With Wire Fraud
Remember that festival that the rich white kids paid thousands of dollars and flew to a random island for? And it turned out to be a dis-as-ter? Well, the festival’s founder and organizer, Billy McFarland, was arrested at his home in Manhattan on Friday and charged with wire fraud. This charge involved McFarland defrauding investors and presenting fake documents that drove them to invest such large sums of money into the event.
McFarland is also accused of telling investors that the company earned millions of dollars from artist bookings, but it was reported that his company earned not even $60K annually. He also showed investors edited images that presented his stock valued over $2.5 million dollars, but his actual share was valued at $1,500.
If he ends up getting convicted, he could end up facing a maximum of 20 years in prison. Him and his partner Ja Rule also face over a dozen law suits in addition to their federal charges.