In 2016, McFARLAND started Fyre Media to build a digital application that would allow individuals organizing commercial events, such as concerts, to bid for artist and celebrity bookings at such events. McFARLAND was the founder and chief executive officer of Fyre Media. Today, McFarland found out the hard way that empty promises don’t lead to jet-setting, champagne, and extravagant parties – they lead to federal prison.”Īccording to the allegations in the Complaints and the First and Second Superseding Informations to which McFARLAND pled guilty, as well as statements made in court proceedings: As he had previously admitted, Billy McFarland did not deliver on his promises to his investors and customers. Attorney Geoffrey Berman said: “Billy McFarland has shown a disturbing pattern of deception, which resulted in investors and customers losing over $26 million in two separate fraud schemes. District Judge Naomi Reice Buchwald, who imposed today’s sentence. McFARLAND pled guilty on Maand Jbefore U.S. (“Fyre Media”), as well as its subsidiary (“Fyre Festival LLC”), which was formed to organize a music festival over two weekends in the Bahamas one count of wire fraud in connection with a scheme to defraud a ticket vendor for the Fyre Festival one count of wire fraud, in connection with his operation of a sham ticket scheme in which he purported to sell tickets to exclusive fashion, music, and sporting events though NYC VIP Access, a company controlled by McFARLAND one count of bank fraud for writing a check with the name and account number of one of his employees without authorization and one count of making false statements to a federal law enforcement agent in which McFARLAND, among other things, falsely denied the wire fraud and bank fraud conduct to which he pled guilty. Berman, the United States Attorney for the Southern District of New York, announced that WILLIAM McFARLAND was sentenced today in Manhattan federal court to 6 years in prison for the following criminal conduct to which he had pled guilty: one count of wire fraud in connection with a scheme to defraud investors in a company controlled by McFARLAND, Fyre Media Inc.
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