Where's the big money from the Fyre Festival fiasco? @darkcityfm Steve Warner DarkCity.fm

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07-15-2017

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Where's the big money from the Fyre Festival fiasco? @darkcityfm Steve Warner DarkCity.fm

Billy McFarland, the cofounder of the musician-booking app Fyre Media and its disastrous Fyre Festival, was arrested by federal authorities on Friday on a wire-fraud charge.

He was released Saturday on $300,000 bail, but not before aspects of his lifestyle were revealed in a hearing.

According to The New York Times, McFarland is making payments on a Maserati with a suggested retail price of $110,000 and renting a Manhattan penthouse apartment for $21,000 a month.

He is currently being represented by a public defender. At the time of his arrest, he had $5,000 in cash on him.

McFarland's "lavish lifestyle" was a cause of concern for the court, said Assistant US Attorney Kristy Greenberg. She questioned whether McFarland was of the limited means typically required to be appointed a public defender.

http://www.businessinsider.com/fyre-festival-founder-billy-mcfarland-has-a-lavish-lifestyle-2017-7

Jul 15, 05:40 AM
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