Previously, Fyre Festival co-organizer Billy McFarland revealed that he lied to investors about the festival during a recent interview. McFarland said, “I knowingly lied to them to raise money for the festival. Yes. And that’s what the crime was. The crime was inexcusably lying about the status of the company to get the money I thought I needed for the festival.” Now, news has been revealed noting that 277 ticket holders have reached a settlement in the class-action lawsuit against the festival.
According to the New York Times, a $2 million settlement was reached in the U.S. Bankruptcy Court this past Tuesday (April 13) but still has to be approved in another hearing set to take place on May 13. The settlement will find the 277 ticket holders getting $7,220 as a way of making up for the issues they experienced almost four years ago.
As of now, Billy McFarland is serving out a six-year sentence in prison after he pleaded guilty to wire and mail fraud charges in 2018.
source: NY Times
