Fyre Festival Founder Billy McFarland Arrested On More Fraud Charges

Billy McFarland

Billy McFarland

Speaking in a statement, FBI Assistant Director-in-Charge William F. Sweeney Jr. said: "Today's charges depict our intolerance for such fraudulent activity, and we will continue to diligently investigate acts such as this".

"I deeply regret my actions, and I apologize to my investors, team, family and supporters who I let down", the Associated Press quoted McFarland as telling the judge in that case the day he pled guilty.

McFarland is reportedly now facing a new set of charges connected to a post-Fyre Festival ticket scam. Earlier this year, he pleaded guilty to wire fraud as well as lying to investors.

Fyre Festival founder Billy McFarland was charged with a whole slew of new crimes he allegedly carried out while awaiting sentencing for his Fyre Festival-related charges.

Each of the three wire fraud charges, as well as the money laundering charge, carries a maximum sentence of 20 years in prison.

Billy McFarland was rearrested Tuesday and charged with earning $100,000 by selling fake tickets to exclusive fashion, music and sporting events through NYC VIP Access, a company he controlled.

McFarland allegedly targeted Fyre Festival customers and then laundered the fraud proceeds to "others' financial accounts in an effort to hide his ownership and control of the funds". The event was advertised on social media by Kendall Jenner, Bella Hadid and other high-profile social media influencers.

McFarland pleaded guilty in connection to the Fyre Festival fiasco on March 6 to one count of wire fraud after defrauding over 80 investors out of $24 million, and another count of wire fraud for lying to the company selling tickets, which took over $2 million in losses, according to the Southern District of NY. Instead, they arrived to find half-built tents, feral dogs and inadequate food and water.

Hulu announced in April it was producing a documentary series about the Fyre Festival.