Billy McFarland was relatively unknown outside of the New York elite club scene until April of last year, when he came to the attention of the world with the Fyre Festival, a party that left attendees stranded with half-built huts and cold cheese sandwiches to eat. The founder of the company behind the festival was sentenced to six years in prison after pleading guilty to wire fraud. He faced a forfeiture order. The man was released early in March 2022. He told The New York Times that he wanted his next venture to be tech-based. He cannot serve as a director of a public company again. He will use his earnings to pay back fraud victims. More about his life can be found below. The Securities and Exchange Commission announced in July of last year that two companies he founded had agreed to settle charges against them. The SEC said that Grant Margolin, the chief marketing officer, had to pay a $35,000 penalty after agreeing to a seven-year director and officer ban. Daniel Simon will pay over $15,000 in disgorgement and penalty after agreeing to a three-year ban. Continue to read.
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