Head of Fyre Festival Pleads Guilty to Fraud

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Infamous Fyre Festival promoter Billy McFarland may have neglected to budget for toilets, but he still managed to drop more than $150,000 on a yacht for the band Blink-182, according to documents obtained by The Post.

Despite promising punters luxury accommodation and a line-up that included the likes of Major Lazer, the event quickly descended into chaos when it took place. The event, tickets for which cost up to thousands of dollars, erupted into what the Bahamas' Ministry of Tourism called "total disorganization and chaos" after hundreds of prospective concertgoers landed in the Bahamas and found poorly built tents, a lack of food and clean water and an insufficient number of public toilets, complained numerous concertgoers. The two men at the centre of the catastrophe were rapper Ja Rule and Billy McFarland, who have since been embroiled in a legal battle over this failed occurrence. Now he will plead guilty.

The 26-year-old entrepreneur who created Fyre Festival admitted in court Tuesday that he defrauded investors in his high-end music festival in the Bahamas, a much-hyped event that ended in a public collapse.

In all, 70 investors collectively lost more than $20 million.

"There was gross mismanagement and a general misunderstanding of how events like this unfold and that purchases weren't being vetted", said the source, who referred to McFarland as a "millennial gone wild". Blink-182 ultimately canceled its appearance at Fyre Festival. Prosecutors said he provided false documents to investors in which he claimed Fyre Media had taken in millions of dollars from thousands of artist bookings in a single year.

McFarland was arrested last June and has been free on $300,000 bail.