Fyre Festival head Billy McFarland pleads guilty to fraud, faces 40 years in prison
McFarland had originally plead not guilty to charges of wire fraud and the admission of false statements to a bank in early October. The Fyre Festival spearhead was arrested back in June of 2017.
“As he admitted today, William McFarland tendered fake documents to induce investors and ticket vendors to put more than $26-million into his company and the disastrous Fyre Festival,” said U.S. Attorney Geoffrey S. Berman in a statement following the entry of McFarland’s guilty pleas.
McFarland will now await his sentencing, which is slated to take place in July. Each of McFarland’s fraud charges bear a sentence of up to 20 years in prison, thus subjecting McFarland to a total possible sentencing of 40 years in prison.