Billy McFarland went to prison for Fyre Fest. Are his plans for a reboot legal?

Billy McFarland, who was convicted for fraud over the Fyre Festival, plans to organize the Fyre Festival II, raising questions about its legality and feasibility.

The big picture: McFarland was jailed for four years for defrauding investors and ticket buyers out of $26 million with the ill-fated Fyre Festival in 2017.
* Released from prison in March 2022 and still owing a hefty restitution, McFarland has now announced the Fyre Festival II set for December 2024.
* Initial tickets, limited to 100, went for $499 each and have reportedly sold out.

Legal context: Experts suggest McFarland’s new venture is legal as there’s nothing in his release conditions preventing such an event.
* Larry Levine, founder of Wall Street Prison Consultants, indicated that McFarland’s probation office likely approved the plan.
* However, his travel restrictions might complicate his attendance at his own event without further court authorization.

Profits and repayment: McFarland’s profits from the new festival may be limited by the restitution he owes to his former victims.
* The festival’s tickets and merchandize could potentially generate around $1.2 million in revenue.
* McFarland alleges that all presale ticket revenue will be held in escrow until the final date is confirmed.

Analysts’ views: Some experts fear McFarland’s marketing approach has problematic shades of prior misleading tactics.
* There is concern about where the money is going, how McFarland is spending it, and if it’s being used to repay his debts.
* Without clear details about Fyre Festival II, including location and artist lineup, there’s nothing concrete enough to definitively label as fraud, according to law professor Jennifer Taub.

View original article on NPR

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