Fyre Festival founder and matchstick man, Billy McFarland, has been charged with wire fraud.
It is claimed that McFarland provided overzealous numbers to persuade investors to invest about $1.2 million to his company.
“As alleged, William McFarland promised a ‘life-changing’ music festival but in actuality delivered a disaster,” Joon Kim, U.S. attorney for the Southern District of New York, stated. “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.”
This is not the only lawsuit for McFarland or his co-partner, Jeffrey Atkins (Ja Rule). Both have more than a dozen lawsuits, including giving fake financial information to investors.
“We thought we were making timeframes that were correct,” McFarland said in an interview with Rolling Stone in April. “We were a little naive in thinking for the first time we could do this ourselves. Next year, we will definitely start earlier. The reality is, we weren’t experienced enough to keep up.”
If convicted, McFarland could face up to 20 years in prison.