Fyre Festival Figure Stays Jailed Pending Ticket-Fraud Charges

(Bloomberg) -- The promoter of the disastrous 2017 Fyre Festival may already have started serving his prison sentence for defrauding investors after a Manhattan judge revoked his bail since more charges have been filed.

U.S. District Judge Naomi Reice Buchwald granted prosecutors’ request Monday, suggesting that "as a practical matter," Billy McFarland is likely to get prison after pleading guilty to the $26 million fraud tied to the festival. Promises of music and luxury in the Bahamas turned into chaos, with poorly constructed tents and a lack of sufficient food and bathrooms.

McFarland was charged last week with a separate ticket scam that took in more than $100,000 from at least 15 people. A U.S. magistrate judge had ordered him jailed for two weeks to give Buchwald time to decide whether to revoke his bail.

His sentencing on the Fyre Festival fraud is set for July 26.

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