Fraudsters have a predictable pattern: they simply don’t stop until someone forces them to. And that means Fyre Festival is back!
After defrauding investors and customers of $26 million and serving part of his six-year sentence, Billy McFarland is planning “Fyre Festival 2.0” for May 30-June 2 in Mexico.
The ticket prices? They range from $1,400 to $1.1 million for a package that includes admission for 8 people, flights from Miami to Cancun, helicopter transfers, and either a yacht or villa.
The red flags are familiar:
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No announced musical artists
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Minimal information on actual event plans
Remember how the original Fyre Festival played out? They sold tickets, made grand promises, and then completely failed to deliver because they had zero experience, leaving attendees in what amounted to FEMA tents on an island.
McFarland, who still owes $26 million in restitution, claims portions of the revenue will go toward repaying his victims.
As my co-host David said on The Accounting Podcast, “It’s like a charity event for himself.”
Listen to the full episode: https://accounting.show/425
