Federal prosecutors may accept a plea deal from William McFarland, the organizer of the infamously disastrous Fyre Festival who was recently arrested on a related count of wire fraud, Bloomberg reported Wednesday.
An attorney for the U.S. government wrote in a court filing last week that the Justice Department is negotiating a plea agreement to potentially resolve the federal case against Mr. McFarland, a Manhattan-based music promoter charged with wire fraud in late June in connection with the notoriously failed music festival held in the Bahamas in April.
“Defense counsel and I have had discussions regarding a possible disposition of this case, and we plan to continue our discussions,” Assistant U.S. Attorney Kristy J. Greenberg wrote in a July 28 filing, Bloomberg reported Wednesday, Aug. 2.
Mr. McFarland was arrested in New York City on June 30 after prosecutors accused him of defrauding two investors to the tune of $1.2 million..
“McFarland truly put on a show, misrepresenting the financial status of his businesses in order to rake in lucrative investment deals. In the end, the very public failure of the Fyre Festival signaled that something just wasn’t right,” William F. Sweeney Jr., the assistant director-in-charge of the FBI’s New York field office, said previously.
Indeed, the Fyre Festival was initially advertised as a luxury, high-priced concert event, replete with gourmet cuisine and celebrities. Instead attendees arrived at the island venue to find lackluster food, accommodations and entertainment, spurring several lawsuits including a $100 million federal class-action filed in California.
Mr. McFarland is currently free on $300,000 bond. He faces a maximum sentence of 20 years in prison if convicted under the initial charge of wire fraud.
Both Ms. Greenberg and an attorney for Mr. McFarland, Randall W. Jackson, declined to comment, Bloomberg reported.