Fyre Festival organizer Billy McFarland pleaded not guilty to fraud charges over the Bahamian music event that went viral this spring when ticket holders offered real-time social-media coverage of its disastrous collapse.
McFarland appeared in Manhattan federal court Monday morning where he waived his right to be charged via an indictment brought by a grand jury; instead, he agreed to move forward facing charges of wire fraud and making false statements to a bank that were presented by prosecutors in a document known as an "information."
That likely signals a plea deal is in the works.
The 25-year-old was arrested in June on charges that he defrauded investors who poured $1.2 million into two companies associated with April's ill-fated festival. Authorities said McFarland provided false documents inflating Fyre's revenue.
If convicted, he could face 20 years in prison. He's currently free on bail.
"McFarland promised a 'life changing' music festival but in actuality delivered a disaster," Joon Kim, acting U.S. attorney for the Southern District of New York, said in a statement upon the organizer's arrest.
Hyped as "the cultural experience of the decade," the inaugural Fyre Festival _ set for the weekends of April 28 and May 5 _ aimed to bring a level of luxury unseen by any destination music event by staging the action on a remote island in Fyre Cay in the Exumas, a string of islands in the Bahamas.
Blink-182, Disclosure, Kaytranada, Migos, Rae Sremmurd, Tyga, Desiigner, Pusha T., Major Lazer and two dozen other artists and surprise-guest headliners were promised as were $1 million in cash prizes and the chance to cozy up to A-list ambassadors including Kendall Jenner and Bella Hadid.
What happened instead was a spectacular failure, one that saw McFarland, co-founder Ja Rule and festival staffers canceling the event just hours before it started.
Poor planning by organizers left the festival grounds in chaos during its first hours as guests arrived to find unbuilt tents, trash-filled grounds, overwhelmed workers and subpar food _ far from the posh glitziness that was promised in the months leading up to the event.
More than a dozen lawsuits alleging fraud, breach of contract and other claims have been filed, and the festival continues to be a potent punchline. Last weekend, "Saturday Night Live" included a joke made at the festival's expense.
