Fyre Festival founder Billy McFarland was formally charged with wire fraud as of last July; in light of attempts at a plea deal, McFarland has reportedly plead guilty to two counts of wire fraud, each carrying a maximum sentence of 20 years in federal prison.
Fyre Festival famously (and figuratively) went up in flames last April when it billed itself as a boutique experience catering to the rich and famous, including many influencers from social media. When attendees arrived to see that the “festival” was in shambles and hardly anything had been set up or even handled properly, it became a topic of national interest and derision.
In addition to the wire fraud, providing false financial information to at least two investors, and generally mishandling the entire event, McFarland also allegedly “misrepresented the company’s revenue to be in the millions when it actually earned less than $60,000,” according to Consequence of Sound. 
McFarland’s sentencing hearing is set for June 21st.
