3
Fyre Festival tapped in on the power of FOMO (short for “fear of missing out”) and was
extraordinarily successful amongst millennials, resulting in significant ticket sales.
When concertgoers arrived at the Festival on April 27, 2017, they “were met with total
disorganization and chaos.”
1
None of the promised musical acts showed up or performed. The
luxury accommodations turned out to be FEMA disaster relief tents. The gourmet food consisted
of the now infamous cheese sandwich served in a Styrofoam container that was even joked about
by Tina Fey during her opening monologue at the 2019 Academy Awards.
2
Feral dogs roamed
the site and no models or celebrities, including Jenner and others that promoted the Festival
and/or told their social media followers that they would be there, were in attendance. The
disaster that became of the Festival is now infamous, capturing the attention of popular culture
and spawning two separate documentaries on Hulu and Netflix.
McFarland raised and spent over $16 million in connection with the failed Festival, at
least that the Trustee has identified thus far.
3
Nearly all of those funds were deposited into and
disbursed from accounts held by Fyre Media, Fyre Festival’s parent company (Fyre Media and
Fyre Festival collectively, the “Fyre Entities”), or transferred by Fyre Media to McFarland and
then disbursed by McFarland. Most of the funds were borrowed from individuals and
institutions that were defrauded by McFarland. Among many other things, McFarland promised
1
This description was given by the Bahamas Ministry of Tourism on April 28, 2017. The full statement is
available at https://www.bahamas.com/article/bahamas-ministry-tourism-statement-fyre-festival.
2
Ms. Fey said to the crowd, “hey everybody, look under your seats, you are all getting one of those cheese
sandwiches from the Fyre Festival.”
3
Accounts of the amounts of money raised and spent vary. The United States Securities and Exchange
Commission (the “SEC”) and the United States Attorney claim that over $16.5 million was raised from defrauded
investors in Fyre Festival, plus an additional approximately $8 million raised from defrauded investors for Fyre
Media. The Trustee’s investigation has identified approximately $12.5 million raised from defrauded investors and
creditors of Fyre Festival, approximately $1.4 million raised from ticket sales, approximately $1.5 million raised
from a company for advances on prospective future ticket sales, and approximately $1 million raised from sales on
prepaid wrist bands from Festival attendees. Funds raised for the Festival would most often be deposited into Fyre
Media accounts, then transferred directly to recipients or transferred to McFarland’s personal accounts before finally
reaching the ultimate recipient.
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