For the international contemporary live music industry

Millions more claimed as Fyre smoulders on

World News
February 22, 2019

UNITED STATES              

Billy McFarland, jailed promoter of the disastrous Fyre Festival venture in 2017, has been ordered by New York County Judge Joel H Cohen to pay back $3 million to defrauded festival investor EHL Funding, a figure that includes 30 per cent interest, as stipulated in the contract.

The investor is also asking for reimbursement of legal costs.

McFarland, who pleaded guilty to fraud last October and is currently serving a six-year sentence in a New York prison, already owes $24m following a settlement with the Securities and Exchange Commission (SEC) and put money into the event.

In addition, two festival-goers were awarded $5m in damages against McFarland last year.

Fyre was billed as a luxury “once-in-a-life-time” event on the island of Grand Exuma, with headliners including Blink-182, who pulled out days earlier, but collapsed and was cancelled as attendees began arriving. The site appeared to still be under development with little shelter or provisions. Tickets cost up to $12,000 for a four-person package (see Audience issue 209).

The full story has since been exposed in two documentaries –Fyre: The Greatest Festival That Never Happened on Netflix and Fyre Fraud on Hulu, with a third due shortly.

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