Federal agents have arrested Fyre Festival pitchman Billy McFarland on suspicion of wire fraud on Friday, nearly three months after the failed music and lifestyle festival left hundreds of participants stranded in the Bahamas.
Prosecutors said McFarland is accused of misleading investors who poured more than $1 million into Fyre Media, based on misrepresentations of the company's revenue.
The entrepreneur who organized the disastrous Fyre Festival in the Bahamas this spring, was arrested and charged with wire fraud on Friday.
Fyre Festival, a luxury music festival co-created by Ja Rule and a constant punchline during the last week of April, inspired at least seven lawsuits filed by ticket holders, vendors and service providers alike. Each suit alleged th...
Federal prosecutors arrested and charged Billy McFarland with scheming to defraud investors in his company, Fyre Media.
Billy McFarland, the man who teamed up with Ja Rule to organize the disastrous Fyre Festival has been charged with one count of wire fraud in relation to the event. Federal prosecutors say McFarland was arrested at his home in…