Monday, 18 June, 2018

Fyre Festival Founder Billy McFarland Arrested On More Fraud Charges

Billy McFarland Billy McFarland Charged for Coachella & Super Bowl Scam While Awaiting Sentencing for Fyre Festival
Charles Bowen | 13 June, 2018, 20:28

Billy McFarland, 26, will remain behind bars until a judge, who is scheduled to sentence him next week in the festival case, decides whether he can be freed on bail.

Billy McFarland - the entrepreneur behind the controversial Fyre Festival - faces new charges of wire fraud and money laundering.

McFarland allegedly began running the ticket scheme in late 2017 - just months after his June 2017 arrest for defrauding Fyre Media investors out of $24 million.

MacFarland was charged Tuesday in NY with one count of wire fraud and one count of money laundering.

Attendees at Fyre Festival in the Bahamas were promised a luxurious, private party, but instead found themselves eating bread and cheese sandwiches under a tent. McFarland's lawyers were not immediately available to comment on the new charges.

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Prosecutors said McFarland, 26, began running the scheme late past year, several months after his arrest for defrauding Fyre investors out of $26 million.

McFarland sold almost $100,000 worth of fraudulent tickets to approximately 15 customers through a company he controlled called NYC VIP Access, according to federal prosecutors. In the affidavit, Special Agent Racz writes that McFarland corresponded with potential customer-victims through Employee-1's email account - which, among other evidence, investigators say they determined was being logged into from an IP address associated with McFarland's parents' house in New Jersey. Both charges carry up a maximum of a 20 year sentence.

"In March of 2018, William McFarland pled guilty to defrauding investors and vendors of the Fyre Festival, but it is apparent that he did not stop there".

"Mr. McFarland is looking at a significant term of imprisonment".

We're told the documentary crew behind Hulu's upcoming Fyre Festival docuseries, being produced by Cinemart, has been following McFarland's hearings.

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