{"id":586002,"date":"2021-07-08T11:36:03","date_gmt":"2021-07-08T15:36:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=586002"},"modified":"2021-07-08T11:36:06","modified_gmt":"2021-07-08T15:36:06","slug":"fyre-festival-ticketholders-will-only-get-refund-of-4-cents-on-the-dollar","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fyre-festival-ticketholders-will-only-get-refund-of-4-cents-on-the-dollar\/","title":{"rendered":"\u2018Fyre Festival\u2019 Ticketholders Will Only Get Refund Of 4 Cents On The Dollar"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffyre-festival-ticketholders-will-only-get-refund-of-4-cents-on-the-dollar%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=586002&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1077353252.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Ticketholders for the \u201cFyre Festival\u201d will receive a measly four cents on the dollar in refunds.<\/span><\/p>\n<p><span>In 2017, entrepreneur Billy McFarland and rapper Ja Rule drew 5,000 people to a remote island in the Bahamas by <\/span><a href=\"https:\/\/www.cnbc.com\/2019\/08\/18\/how-fyre-festivals-organizer-scammed-investors-out-of-26-million.html\"><span>promising<\/span><\/a><span> a luxury music festival experience. In return for their tickets \u2014 some of which sold for up to $100,000 \u2014 fans received cold cheese sandwiches and rain-soaked mattresses in dilapidated FEMA tents.<\/span><\/p>\n<p><span>Many artists \u2014 including Pusha T, Tyga, Migos, and Blink-182 \u2014 dropped out of the festival days before it began. McFarland also paid Kendall Jenner, Emily Ratajkowski, and other influencers to promote the event on social media.<\/span><\/p>\n<p><span>McFarland pleaded guilty in 2018 to three counts of wire fraud, one count of bank fraud, and one charge of making false statements. He was sentenced to six years in prison and told to pay more than $26 million to defrauded customers and investors.<\/span><\/p>\n<p><span>Gregory Messer \u2014 who has been overseeing the Fyre Festival\u2019s bankruptcy for the past four years \u2014 recently asked for permission to distribute the paltry $1.4 million he was able to collect. As <\/span><a href=\"https:\/\/nypost.com\/2021\/07\/07\/fyre-festival-attendees-stand-to-recover-almost-nothing-from-bankruptcy\/\"><span>The New York Post<\/span><\/a><span> reports:<\/span><\/p>\n<blockquote readability=\"15\">\n<p><i><span>After subtracting costs of roughly $1.1 million, including payment to Messer and his legal team, there will be just $300,000 left for creditors, court papers show. That will leave less than 4 cents on the dollar for the unsecured creditors, including ticketholders, who claim they are owed more than $7 million, Messer said.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>As tickets ranged from $1,200 to $100,000 each, would-be attendees could receive as low as $48 in refunds.<\/span><\/p>\n<p><span>The New York Post continues:<\/span><\/p>\n<blockquote readability=\"30\">\n<p><i><span>Jenner, younger sister to Kim Kardashian West, coughed up $90,000 of the $275,000 she received, court papers show. Ratajkowski returned $37,500 of her $300,000 payment. Rock band Blink 182, which famously tweeted that it was backing out even as attendees arrived on the island, returned $157,100 of the $265,000 it had been paid.<\/span><\/i><\/p>\n<p><i><span>Messer says he had trouble clawing back money from many of the entities he went after, including musical acts, influencers and jet and yacht companies. Even though the musical acts \u201cnever performed\u2026 most of these artists had strong contracts,\u201d he said. McFarland, meanwhile, \u201cprovided no cooperation\u201d when it came to recovering funds and kept \u201cessentially no books and records\u201d that might help track down people who benefited from the scheme, the trustee said.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Messer is investigating whether footage included in Hulu and Netflix documentaries about the Fyre Festival is estate property, but otherwise intends to shutter the case.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ticketholders for the \u201cFyre Festival\u201d will receive a measly four cents on the dollar in refunds.In 2017, entrepreneur Billy McFarland and rapper Ja Rule drew 5,000 people to a remote &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314247,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1077353252.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Fyre Festival\u2019 Ticketholders Will Only Get Refund Of 4 Cents On The Dollar","footnotes":""},"categories":[],"tags":[],"class_list":["post-586002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1077353252.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Fyre Festival\u2019 Ticketholders Will Only Get Refund Of 4 Cents On The Dollar","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/586002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=586002"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/586002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314247"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=586002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=586002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=586002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}