Fyre Festival Promoter Billy McFarland Arrested On Fraud Charges

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Assistant U.S. Attorney Kristy Greenberg called McFarland a financial threat to the community, saying he'd used the client list of the Fyre Festival to pitch a new ticket fraud that promised tickets to music, fashion and sporting events that he didn't possess and had no way of getting.

McFarland allegedly targeted Fyre Festival customers and then laundered the fraud proceeds to "others' financial accounts in an effort to hide his ownership and control of the funds".

He says the 26-year-old McFarland went on to sell fraudulent tickets totaling nearly $100,000 to various events.

Fyre Festival was one of the biggest flops in the history of music festivals.

According to the filing, McFarland tried to cover up his involvement in NYC VIP Access by using a then-employee's email account instead of his own, according to the filing. The company purported to sell "bogus" tickets to high-profile events like the 2018 Met Gala, Coachella 2018, the 2018 Grammy Awards, and Burning Man 2018.

He has been charged with one count of wire fraud and one count of money laundering.

According to a new report, McFarland was arrested earlier today on more fraud charges.

The festival was anything but the ultra-luxurious event promoted as "the cultural experience of the decade" and touted on social media by Kendall Jenner, Bella Hadid, Emily Ratajkowski and other models and celebrities. Both carry sentences of up to 20 years in prison.

Manhattan federal prosecutors say McFarland, 26, began running the ticket scheme in late 2017 - just months after his June 2017 arrest for defrauding investors of his Fyre Media company out of $24 million.

Hulu announced in April it was producing a documentary series about the Fyre Festival.

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