At the end of April, an exclusive music festival promoted by Instagram “influencers” turned into a disaster, the result of poor planning, prompting a flurry of lawsuits and outcry from attendees. Now, the US Attorney’s Office for the Southern District of New York has announced that it has arrested and charged the festival’s organizer with wire fraud.
Acting United States Attorney Joon H. Kim alleges that William McFarland allegedly provided “at least one investor an altered stock ownership statement, in an effort to make it appear that McFarland would personally guarantee the investment.” The office also says that he misrepresented the company’s finances, saying that the company earned millions of dollars in revenue from booking artists...
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