Fyre Festival’s Billy McFarland opens up about his ‘biggest regret’ after serving prison time and how much money he owes
"There's a whole big campaign and we did a couple of podcasts and like announced that we're doing it."
"And everything through PYRT is built on that theme and they have a couple of subprojects that go along the way too." When it comes to him being monitored by the government, McFarland said he hasn't left New York after his release - aside from a trip to New Jersey."I need permission to go anywhere, but yeah hopefully soon."McFarland made his name as a young entrepreneur in 2013 after founding a card-based social club named Magnises using $1.5million of investor funding.Fyre Media claimed to be worth $90million in a term sheet sent to investors, although it had only done $60,000 in business.
Ultimately, McFarland pleaded guilty to wire-fraud charges pertaining to Fyre Festival, along with a $100,000 fake ticket scheme for events like Coachella and the Met Gala.McFarland was also convicted of defrauding festival investors and customers out of $26million, which he now owes back in restitution, perDuring his trial in 2018, a judge described him as "a serial fraudster" who had been dishonest for "most of his life.
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