Fyre Festival Promoter Billy McFarland Arrested On Fraud Charges

Billy McFarland

Billy McFarland, the promoter of the failed Fyre Festival in the Bahamas, leaves federal court after pleading guilty to wire fraud charges, Tuesday, March 6, 2018, in NY.

Prosecutors said McFarland, 26, began running the scheme late past year, several months after his arrest for defrauding Fyre investors out of $26 million.

Speaking in a statement, FBI Assistant Director-in-Charge William F. Sweeney Jr. said: "Today's charges depict our intolerance for such fraudulent activity, and we will continue to diligently investigate acts such as this".

Brendan McDermid / Reuters Billy McFarland (left) sold almost $100,000 worth of fraudulent tickets in the several months since he's been free on bail, according to federal prosecutors. On Tuesday, he was charged with starting another fraudulent company late previous year and running it right up until he entered his guilty plea for Fyre Festival three months ago.

McFarland was trying to sell the tickets in March, the same month he pleaded guilty to defrauding investors for the Fyre Festival, prosecutors allege.

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Billy McFarland was arrested on Tuesday on charges that he conducted a sham ticket scheme, selling fraudulent tickets to fashion, music and sporting events.

If you're wondering what the heck is going on, since McFarland's already scheduled to be sentenced after pleading guilty in the Fyre Festival case, it appears after his initial arrest he was still trying to run scams.

McFarland allegedly solicited Fyre Fest attendees to purchase "tickets" from the company. 15 people allegedly bought tickets from the company, totaling $100,000. Instead, they arrived to find half-built tents, feral dogs and inadequate food and water. He's also had to come up with $26 million to repay those festival investors he defrauded.

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

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