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Fyre Festival Promoter Arrested on New Set of Fraud Charges

Fyre Festival Promoter Arrested on New Set of Fraud Charges

Investors in the 2017 Fyre Festival lost over $26 million in what was billed as "the cultural experience of the decade".

Sweeney Jr., head of New York's Federal Bureau of Investigation office, says new charges show that McFarland didn't stop committing crimes after pleading guilty in March to defrauding investors and vendors in the Fyre Festival. McFarland's lawyers were not immediately available to comment on the new charges.

The heavily hyped Fyre Festival was to be a "luxury concert" - taking place on a small island in the Bahamas and featuring Blink-182, Migos and Disclosure - but collapsed on in a mess of disorganization on April 29 before it had even started.

Fyre Festival founder Billy McFarland, who pleaded guilty to wire fraud in March, costing over 80 investors a total of $26 million, was arrested again on Tuesday, and charged with running a fraudulent ticket-selling scam, TIME reports.

The "tickets", which were supposedly intended for events including this year's Grammys, the Super Bowl, Coachella, the Met Gala and Burning Man, were sold to 15 people and amounted to almost $100,000.

A magistrate judge ordered him detained Tuesday after prosecutors said they have evidence that McFarland may have also committed bank fraud and identity theft while out on bail. Both carry sentences of up to 20 years in prison. "He targeted the same victims who tried to attend his Fyre Festival".

"William McFarland, already awaiting sentencing for a prior fraud scheme, allegedly continued to conduct criminal business as usual", United States Attorney Geoffrey Berman said in a statement.

Billy McFarland, center, accompanied by his attorney Randall Jackson, left, leaves federal court after pleading guilty to wire fraud charges, Tuesday, March 6, 2018, in NY.

"Mr. McFarland is looking at a significant term of imprisonment".

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