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Fyre Festival founder pleads not guilty to fraud charges

Billy McFarland is charged with wire fraud and falsifying statements to a bank.

Fyre Festival founder Billy McFarland pleaded not guilty to charges of wire fraud and making false statements to a bank just months after his arrest in New York over the summer, Variety reports.

McFarland, 25, faces two counts of wire fraud — one for scheming to defraud investors through actions including falsifying emails — and a second for allegedly defrauding a ticket vendor. Two additional counts allege false statements to to a bank.

The tech entrepreneur behind the ill-fated festival found himself in hot water after the billed event found attendees in the Bahamas without "adequate food, water, shelter, and medical care." Back in April, a $100 million lawsuit was filed against McFarland and the festival organizers, including Ja Rule, by "more than 150" plaintiffs. In May, the festival organizers were slammed with another lawsuit. On June 30, McFarland was arrested for illegally securing $1.2 million in investments based on false information about his stocks.

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