Fyre Festival organizer ordered to repay $26 Million
Fyre Festival organizer Billy McFarland has been ordered to repay the $26 million he admitted to stealing from investors.
The Manhattan federal court issued the judgment after McFarland pleaded guilty to two counts of wire fraud, which are connected to funds he got from investors. The second count is linked to his providing false income statements.
McFarland's disastrous Bahaman music festival was meant to take place last spring.
Fyre Festival was initially advertised as “the unparalleled best in music, cuisine, design & hospitality on a private island in the Exumas”—but, according to patrons, the experience was anything but luxurious.
He was arrested last July on counts of wire fraud, and back in October, he pleaded not guilty to two charges of wire fraud and making false statements to a bank.
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