Following his guilty plea last week to two counts of wire fraud in connection with the disastrous 2017 Bahamian music festival Fyre Festival, organizer and promoter Billy McFarland was ordered to repay the $26 million he admitted to stealing from investors, according to a judgment issued against him on Friday (March 9) in the Manhattan federal court.
He also faces years in prison and will be sentenced June 21.
The Fyre Festival was scheduled to take place on the Bahamian island of Exuma over two weekends in April and May, 2017.
It was heavily promoted as a very A-class event providing luxury villas and catered meals with performances from artists such as Migos, Major Lazer, Blink-182, and Disclosure. Persons paid up to US$12,000 for tickets and booked festival/accommodation packages costing up to US$400,000.
However, disappointed attendees arrived to find a “tent city” for accommodation and inadequate food and drink.