Published: Thu, June 14, 2018
Entertaiment | By Mabel Barber

Fyre Festival Founder Billy McFarland Arrested for New Ticket-Selling Scam

Fyre Festival Founder Billy McFarland Arrested for New Ticket-Selling Scam

Fyre Festival founder Billy McFarland, who pleaded guilty to wire fraud in March, costing over 80 investors a total of $26 million, was arrested again on Tuesday, and charged with running a fraudulent ticket-selling scam, TIME reports.

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

According to the U.S. Attorney, around March 2018 McFarland owned "NYC VIP Access", a company that purported to sell tickets to high profile events, but in reality no tickets existed.

Billy McFarland, center, accompanied by his attorney Randall Jackson, left, leaves federal court after pleading guilty to wire fraud charges, Tuesday, March 6, 2018, in NY. Then, McFarland's company would allegedly offer those people tickets (at premium prices) to things including the 2018 Met Gala, the Victoria's Secret Fashion Show, and a private dinner with LeBron James.

McFarland has been charged with money laundering and another count of wire fraud, both of which carry a maximum sentence of 20 years in prison. Authorities say McFarland was conducting the scheme even after he pleaded guilty to wire fraud and misleading Fyre Media's investors.

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McFarland sent proceeds from the fraudulent sales to other people's accounts in an attempt to hide his connection to the funds, prosecutors said.

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. As his Fyre Festival co-hort Ja Rule would sing, McFarland best prepare for some good "Thug Lovin'".

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

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

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