Billy McFarland, cofounder of the Fyre Media startup and its disastrous Fyre Festival, was arrested by federal authorities on wire fraud charges June 30.
He was released July 1 on $300,000 bail, but not before aspects of his lifestyle were revealed in a hearing.
According to the New York Times, it was revealed that McFarland is making payments on a Maserati with a suggested retail price of $110,000 and is renting a Manhattan penthouse apartment for $21,000 a month.
He is currently being represented by a public defender. At the time of his arrest, he had $5,000 cash on read more >>>
Source : BusinessInsider.Com