The New York Post has obtained documents indicating that Fyre Festival promoter Billy McFarland spent more than $150,000 on a yacht last April for the band Blink-182. It's no wonder his doomed music festival didn't even have running water. McFarland also allegedly spent $18,208 on towels, and $260,000 on a carpet for the partially-constructed tents where people were expected to sleep.
"There was gross mismanagement and a general misunderstanding of how events like this unfold and that purchases weren’t being vetted," a source told the New York Post. “At no point in time if you look at the big picture does it appear that there was ever a criminal element. It was just the idea of a 20-something who unraveled." Blink-182 eventually pulled out of the event, stating, “We’re not confident that we would have what we need to give you the quality of performances we always give our fans.”
McFarland is expected to be in Manhattan federal court on Tuesday. He’s facing wire fraud charges for lying to investors. McFarland claimed that his company, Fyre Media, had made millions from booking thousands of artists, when in reality, his company had revenues well below $60,000. McFarland is expected to plead guilty after waiving his right to a grand jury indictment. He has reportedly been speaking with prosecutors about a “possible disposition of the case” as far back as August.