In the aftermath of the Fyre Festival debacle, its founder Billy McFarland could face up to 15 years in prison if prosecutors have their way.
The Fyre Festival promised music, fun, and a fantastic time in the Bahamas–concert-goers found tents, cold cheese sandwiches, and insufficient bathrooms, while tickets cost as much as $12,000.
In March McFarland admitted in a guilty plea that he lied to investors, who invested $1.2 million in his company. Prosecutors say he provided false documents, inflating Fyre’s revenue, and altered a stock ownership statement to appear that shares he owned for less than $1,500 were valued at $2.5 million.
In July, he pleaded guilty to new charges that he ran a fraudulent ticket business while on bail, netting more than $100,000 from at least 15 people for tickets to events like Coachella, the Met Gala, and the Super Bowl–tickets he didn’t have.
McFarland is scheduled for sentencing October 11th in Manhattan federal court.
