According to Billboard, Friday March 9th in a Manhattan federal court, the Fyre Festival founder Billy McFarland has been ordered to repay $26 million dollars due to stealing from investors.
Earlier last week we reported that McFarland pled guilty for two counts of wire fraud with the disastrous caribbean “festival” event. McFarland uses fake financial documents to trick his investors and the ticket company for them to give millions for the festival set for the Bahamas.
Having to repay millions of dollars, we reported that since he plead guilty he will be facing 8 to 10 years in prison, in which he will be sentenced June 21.
McFarland gives a statement in court while pleading guilty, ‘I deeply regret my actions, and I apologize to my investors, team, family, and supporters who I let down.”