Fyre Festival promoter freed on bail after court appearance
{{#rendered}} {{/rendered}}Fyre Festival promoter Billy McFarland leaves federal court after his arraignment. (The Associated Press)
The promoter of a failed Bahamas music festival has been freed on bail a day after he was arrested on a fraud charge.
Billy McFarland left Manhattan federal court Saturday with Assistant Federal Defender Sabrina Shroff.
McFarland was charged Friday with scheming to defraud investors in his company, Fyre Media.
{{#rendered}} {{/rendered}}The charges stem from McFarland's promotion of the Fyre Festival. It was billed as an ultra-luxurious event to take place on the island of Exuma over two weekends in April and May.
Ticket buyers were told headlines would include Blink-182 and the hip-hop act Migos but performers backed out and the show was canceled.
Prosecutors say the 25-year-old McFarland used fake documents to trick investors. He was freed on $300,000 bail, telling reporters he'd love to speak but can't.