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Fyre Festival's Billy McFarland Has To Pay Investors $26 Million

The ruling came from a Manhattan court on Friday, March 9.

by Lauren O'Neill
Mar 12 2018, 1:51pm

Photo of Billy McFarland by Patrick McMullan via Getty Images

Not a great time to be Billy McFarland, but to be honest, the last year hasn't really been a great time to be Billy McFarland (in case you somehow missed it, he's the guy who founded the colossal fuck up that was Fyre Festival). As we near the year anniversary of Fyre Festival (April 27 #neverforget), McFarland has now plead guilty to wire fraud and as a result will receive a sentence of between eight and ten years in prison in June.

As part of the judge's ruling, McFarland has also been ordered to pay investors in Fyre Festival a combined $26 million, which, per Billboard, he admitted to stealing from them. Prosecutors stated that McFarland faked documents to misinform investors (and a literal ticket company) about the event, to the tune of $26 million. The limited liability company that owns Fyre has now been forced into bankruptcy. In court, McFarland stated, "I deeply regret my actions, and I apologize to my investors, team, family, and supporters who I let down." I mean, yeah.

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This article originally appeared on Noisey UK.