Judge Officially Declares Fyre Festival Bankrupt

Founder Billy McFarland Was Also Charged With Wire Fraud

The losses certainly haven’t stopped coming for Fyre Festival have they? While the much-maligned “festival” has more or less disappeared from the view of social media in the last few months, behind the scenes the FBI has been working hard to see justice delivered.

Now, it looks like we’re starting to see that take shape as U.S. bankruptcy judge Martin Glenn has approved an involuntary petition last Tuesday which will force Fyre Fest LLC into a Chapter 7 bankruptcy. That decision should render whatever is left of Fyre Fest’s assets, plus those of Billy McFarland, into liquidation.

Billy McFarland is currently also negotiating a plea deal with the U.S. government over their wire fraud charges.

H/T: XXL

 

 


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