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Fyre Festival organizer arrested, charged with wire fraud

billy mcfarland ja rule fyre

Federal agents have arrested Fyre Festival pitchman Billy McFarland on suspicion of wire fraud on Friday, nearly three months after the failed music and lifestyle festival left hundreds of participants stranded in the Bahamas.

Prosecutors said McFarland is accused of misleading investors who poured more than $1 million into Fyre Media, based on misrepresentations of the company’s revenue.

A statement from Acting Manhattan US Attorney Joon Kim released Friday said McFarland told investors that Fyre Media earned millions of dollars from thousands of artist bookings in 2016 and 2017, but in reality had brought in less than $60,000 from about 60 read more >>>

Source : BusinessInsider.Com

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