Roommates, do you remember that music festival that promised guests “an ultra-exclusive musical experience” on a private island in the Bahamas, but instead turned out to be a huge disaster leaving people stranded in tents with limited food & water? Well, seems like the organizer of the #FyreFestival has officially been arrested and charged with fraud.
According to the Huffington Post, McFarland who teamed up with Ja Rule (as the even co-founder) is in hot water after federal prosecutors believe McFarland gave investors fake documents in a successful attempt to convince them to invest over a million dollars into the festival and his company.
McFarland is also accused of telling investors that the company earned millions of dollars from artist bookings, even though it was reported his company earned less that $60K annually. According to federal charges he also showed investors altered images that insinuated he owned stock valued over $2.5 million dollars when his share was valued at $1,500.
Ja Rule’s attorney has confirmed the rapper has not been arrested in connection with McFarland’s charges, but he will however be facing multiple lawsuits.