Fyre Festival Founder McFarland Released on Bail to Return Home

U.S. says McFarland lied to investors about festival, firm
Bahamas music gala ended in disaster for wealthy concertgoers

Billy McFarland, center, attends a benefit event in Water Mill, NY.
Photographer: Patrick McMullan/Patrick McMullan via Getty Image

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By Bob Van Voris and Polly Mosendz

July 1, 2017 at 1:53 AM UTC

Updated on

July 1, 2017 at 8:53 PM UTC

This article is for subscribers only.

Fyre Festival founder Billy McFarland, organizer of a disastrous music event in the Bahamas, was released on $300,000 bond after being arrested in New York on federal charges that he defrauded investors who bought a stake in his media company.

The would-be high-flying entrepreneur now faces a sharp and unwelcome downgrade to his lifestyle, from a $21,750-a-month Manhattan penthouse to living in New Jersey with his parents, who were present at Saturday’s 41-minute hearing.