Organizer of Fyre Festival arrested, charged with wire fraud could face 20 years in prison.

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The last time we heard about this….

Back in May, Fyre Festival, the New York Times has published a lengthy story about the disastrous ultraluxury music fest founded by entrepreneur Billy McFarland and Ja Rule. The biggest news from the Times report is that the festival’s organizers are apparently under fraud investigation by federal prosecutors and the F.B.I.

Here’s an update on the situation.

Billy McFarland, who charged up to $12,000 for people to attend what was billed as an ultra-luxurious private island experience with musicians and models, now has the significant charge leveled against him, according to documents from the U.S. Attorney’s office.

The charge alleges McFarland defrauded investors by misleading them about his company’s revenue and maintaining that their potential investments would be secure, a release on the matter suggests.

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