The man behind a disastrous Bahamas music festival pleaded not guilty Monday to swindling investors who put money into the failed event.
Billy McFarland, 25, is charged with two counts of wire fraud and two counts of making false statements to a bank. His lawyers declined to comment following his appearance in Manhattan Federal Court.
McFarland is accused of tricking investors who dumped money into the ill-fated Fyre Festival that his company’s financials were solid.
The Manhattan U.S. Attorney’s Office says McFarland doctored financial documents to bolster his bogus claims.
The Fyre Festival was scheduled to run over two weekends in April and May on the Bahamas island of Exuma.
Tickets for the luxe fest cost from $ 1,500 to a shocking $ 250,000.
Soon after attendees poured onto the island, they learned the Fyre Fest was anything but luxurious — and lacked basic necessities such as sufficient lavatories.
And just one day before Fyre Festival was to start, marquee performer Blink-182 backed out because of production concerns.