Fyre Festival entrepreneur released on bail

On Saturday, Billy McFarland was released after spending just one night at the Metropolitan Detention Centre in accommodations probably about as comfortable as those of his stranded festival attendees this April. As reported before the weekend, the young entrepreneur behind the disastrous Fyre Festival was arrested on a charge of wire fraud.

McFarland was released on a bail set at a whopping $300,000 bond. He also had to be co-signed for by “two financially responsible persons,” so I’m doubting his former Fyre media partner, Ja Rule, was capable of helping him out.

Investigations revealed that McFarland seemed to have gathered at least $8 million on sales of 8,000 Fyre Fest tickets and spent it all. He also claimed to own $2.56 million in stock holdings, but really owned closer to $1,500. If nothing else, you have to admit this man has a knack for hyperbole.