Fyre Festival promoter arrested for wire fraud

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The promoter behind Fyre Festival, the failed music festival held in the Bahamas, was arrested on Friday in New York on a wire fraud charge.

Billy McFarland was charged with scheming to defraud investors in his company, Fyre Media, and Fyre Festival that was supposed to take place on the island of Exuma over two weekends in April and May.

The festival was billed as an ultra-luxurious event with headliners including bands like Blink-182 and the hip-hop act Migos. But performers bowed out and organizers were forced to cancel the show.

Read more at CBC News

This article is summarized by Canadian Fraud News Inc.