FYRE FESTIVAL ORGANIZER ARRESTED FOR 20 YEARS JAIL TIME

FYRE FESTIVAL ORGANIZER ARRESTED FOR 20 YEARS JAIL TIME

Billy McFarland, organizer of Fyre Festival. The tech entrepreneur was charged with wire fraud in connection to his digital company 

The organizer of infamous and disastrous Fyre Festival, Billy McFarland has finally been arrested and will be facing upto 20 years of jail time for fraud to the people who invested in the festival as well as all the disappointed participants.

Billy McFarland is an American capitalist and entrepreneur, as the founder and CEO of three companies: Spling, Magnises, and Fyre Media has been arrested charged with wire fraud in connection to his digital company

The Fyre Festival actually had the most anticipated music festival of the year after Coachella. The organizers of the Fyre Festival had promised the organizers to make the festival a great hit as well as the festival visitors through various visual and print ads that the festival would be a great experience with the great music as well as the great location of Bahamas enjoying the island and seaside. The Festival goers who visited the Fyre Festival had paid between $4,000 to $100,000 per person But the ending was not as anticipated and expected but got resulted in a great disappointment.

The organizers who invested for the festival with the trust of the saying of the organizers that their investment will be worth it. The investors have claimed that Billy McFarland, 25 provided false documents to two individuals in an effort to secure a $1.2 million investment in Fyre Media. And not only this, he had also claimed with the false information that he had made a million revenue in the 2016 and 2017 but the fact was that he had earned below $60,000 approximately.

With all these frauds, he had claimed that he had finally had a arrest warrant and had been arrested. He will be facing about 20 years of long jail time for such a fraud he had done. But, with the arrest of Billy, now he has been bailed out for the time being with the cost of $300,000.

Althought The Fyre Festival had two organizers Billy McFarland and Ja Rule, Billy being the head of the Fyre Media has only been arrested. Now we've got to see where will the case lead in the future.
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