Billy McFarland defrauded investors by tens of millions of dollars.
12 of 2018
2 min of reading
This story originally appeared in Engadget
Billy McFarland, the founder of the disastrous Fyre Festival of 2017, has been sentenced to six years in federal prison, The New York Times reports. The 26-year-old was convicted of defrauding investors, an act he admitted earlier this year.
McFarland told prosecutors that Fyre Media received $ 26 million from lenders when lying and falsifying documents, so it was later called "the cultural experience of the decade." However, as we know now, the Fyre Festival ended up being the opposite, leaving the attendees stranded at the airports and eating cheese sandwiches instead of the five-star meals that McFarland and his group promised them.
Bands like Blink 182, who were supposed to perform at the event, did not even show up in the Bahamas, where the Fyre Festival was taking place. "The organizers assured us that all measures were taken to ensure a safe and successful event," the Bahamas Tourism Ministry said in a statement in 2017, "but they clearly did not have the capacity to run an event of this scale." Thousands of people also bought tickets thinking that they would be dating supermodels like Kendall Jenner, but that was obviously another lie.
"The defendant is a serial scammer," Manhattan federal judge Naomi Reice Buchwald said Thursday. ABC News. "Mr. McFarland is a swindler and not just a misguided young man." The bad intention was long-lasting.