Fyre Festival Founder Arrested, Charged With Wire Fraud

Federal agents on Friday arrested Billy McFarland, the businessman behind the botched Fyre Festival, on charges of wire fraud.

McFarlands arrest comes four months after the event which was billed as an ultra-luxurious music festivalon a private island with gourmet catering and supermodels and tickets that cost up to $250,000 turned out to be a disorganized failure.

When ticket holders arrived on the secluded island in late April,they were shocked to find what appeared to be a construction site with half-built tents, feral dogs and inadequate food and water.

Joon Kim, the acting Manhattan U.S. attorney, said in a press release Friday that McFarland promised a life changing musical festival but in actuality delivered a disaster.

Federal prosecutors believe that McFarland gave investors fake documents in a successful attempt to convince them to invest more than a million dollars in his company and the festival.