Fyre Festival organizer Billy McFarland is reportedly looking to make a plea deal with federal prosecutors after being charged with wire fraud.
McFarland, who’s currently out on $300,000 bail, was arrested on June 30 and charged with allegedly attempting to defraud investors. The claim is that he illegally secured $1.2 million in investments based on false information about his stocks.
The Fyre Festival—which McFarland planned as a luxury concert experience in the Bahamas, in partnership with Ja Rule—has been nothing but a nonstop disaster with dire repercussions, including various lawsuits.
According to Billboard:
Assistant U.S. Attorney Kristy Greenberg filed a motion for continuance in the case Monday, asking Magistrate Judge Gabriel W. Gorenstein for more time to negotiate a plea bargain with McFarland’s attorney Randall Jackson.
“Defense counsel and I have had discussions regarding a possible disposition of this case, and we plan to continue our discussions” Greenberg wrote.
In a previous statement, Acting Manhattan U.S. Attorney Joon Kim wrote that McFarland “allegedly presented fake documents to induce investors to put in over a million dollars into his company and the fiasco called the Fyre Festival.”
McFarland is facing up to 20 years in prison.