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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBilly McFarland Is Out of Jail and Ready for His Next Move – The New York Times
Mr. McFarland, who in 2018 entered guilty pleas for fraud stemming from his role in organizing the Fyre Festival — a Coachella-for-the-Bahamas affair that went spectacularly awry and established him as the Elizabeth Holmes of party promoters— had been a free man for all of 15 minutes. And he didn’t seem inclined to lay low […]
SEC Charges Failed Fyre Festival Founder and Others With $27.4 Million Offering Fraud
The SEC’s complaint alleges that McFarland fraudulently induced investments into his companies Fyre Media, Inc., Fyre Festival LLC, and Magnises, Inc., including in connection with McFarland’s failed venture to host a “once-in-a-lifetime” music festival in the Bahamas. With substantial assistance from Grant H. Margolin, his Chief Marketing Officer, and Daniel Simon, an independent contractor to […]