Billy McFarland pleaded guilty to his involvement in a fake ticketing scheme while out on bail awaiting sentencing for fraud charges related to the doomed Fyre Festival, which he organized with Ja Rule.
The Securities and Exchange Commission (SEC) today announced that Fyre Festival founder Billy McFarland -- along with two companies he founded, a former senior executive, and a former contractor -- agreed to settle charges arising out of "an extensive, multi-year offering fraud" that raised at least $27.4 million from over 100 investors...
The documentary series, which is set to premiere in 2019, will be a "cautionary tale for the millennial generation about the corruptive power of ambition, social media and instant gratification in the digital age."
Billy McFarland, the organizer behind the disaster that was last year's supposedly luxe, beachside Fyre Festival, has plead guilty to two counts of wire fraud charges in federal court in Manhattan on Tuesday (3/6). Maybe if he hadn't spent $150K on a yacht for Blink-182 (and nearly $20K on towels) things might have gone differently.
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