Fyre Festival promoter Billy McFarland has plead guilty to wire fraud.
Following an FBI investigation into the disastrous Bahaman music festival, McFarland was arrested last June and then pled not guilty to charges of wire fraud and making false statements to a bank in October. When McFarland waived the indictment then, it meant that a grand jury would not be convened and it was likely a plea deal would be sought even though the case was moving forward to trial. Now, on Tuesday (March 6), a spokesperson at the United States Attorney’s Office for the Southern District of New York told Billboard that McFarland had accepted a plea deal.
“As he admitted today, William McFarland tendered fake documents to induce investors and a ticket vendor to put more than $26 million into his company and the disastrous Fyre Festival,” said U.S. Attorney Geoffrey S. Berman in a statement.
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