Remember the Fyre Festival? The event that was supposed to take place in the Bahamas in the Spring and feature such currently coveted headliners like Ja Rule & Blink 182? The one where attendees spent anywhere from $4,000 to $100,000 on tickets and accommodations like janky tents? The one where many of those same attendees ended up being stranded on the island? According to ABC News, the festival’s founder, 25-year-old Billy McFarland was arrested Friday and charged with wire fraud in connection to his digital company, Fyre Media.
Investigators say McFarland lied in documents in order to secure a $1.2 million dollar investment. They add he also claimed he made millions from 2016-2017, when in reality he only netted about $60,000 from some artist bookings.
McFarland faces up to 20 years in prison. On Saturday, he was released on $300,000 bail. In a statement, McFarland’s lawyer said when everything is all said and done, "you will see he is hardly the villain the government portrays him as."
In case you’re wondering, Ja Rule was not arrested with McFarland.
Source: twitter.com
