Founder of failed Fyre Festival arrested on fraud charges
Billy McFarland, founder of the Fyre Festival, was arrested on Friday on charges of fraud. Prosecutors said McFarland is accused of misleading investors who invested more than $1 million into Fyre Media, based on misrepresentations of the company's revenue. "McFarland promised a 'life changing' music festival but in actuality delivered a disaster," acting US attorney Joon Kim said.