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Thread: Fyre Fest: Rich privileged kids pay up to 12k for "exclusive" music festival in Bahamas, raped and pillaged instead

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    Platinum duped_samaritan's Avatar
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    He said Fyre Media had earned millions of dollars from thousands of bookings this year and last. But in reality, the complaint said, his company had taken in only $57,443.

    And in one communication with an investor, Mr. McFarland supplied a Scottrade statement that he had altered to inflate his ownership of a particular company’s stock. According to the complaint, the fake document showed that Mr. McFarland owned $2.5 million in shares, when in reality his position was worth $1,500.

    nyt article


    Same league as peterDC imo

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    Owner Dan Druff's Avatar
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    Did you see who busted him?

    The US Attorney's Office in the Southern District of NY.

    Preet Bhara would have been the one behind this if he hadn't been fired.

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    Quote Originally Posted by duped_samaritan View Post
    He said Fyre Media had earned millions of dollars from thousands of bookings this year and last. But in reality, the complaint said, his company had taken in only $57,443.

    And in one communication with an investor, Mr. McFarland supplied a Scottrade statement that he had altered to inflate his ownership of a particular company’s stock. According to the complaint, the fake document showed that Mr. McFarland owned $2.5 million in shares, when in reality his position was worth $1,500.

    nyt article


    Same league as peterDC imo
    Dude was photoshopping Scottrade statements in order to get investments -- and it worked!

    EASY MARK SFO

  4. #104
    Nova Scotia's #1 Party Rocker!!!!11 DJ_Chaps's Avatar
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    Quote Originally Posted by Crowe Diddly View Post
    from Bob Lefsetz's newsletter, should be on his website in a day or 2. Always a fun read.
    --------------------

    Fyre Festival

    Everybody likes to pile on.

    Rather than focus on the big issues, like Trump giving back to the rich, the great unwashed would rather concentrate on the foibles of a long in the tooth rapper and a greedy tech entrepreneur.

    Then again, that's the world we now live in, one where everybody believes they can do everything. A failed real estate entrepreneur with multiple bankruptcies under his belt can become President and people with money and fame can become concert promoters.

    It's a professional business, a skill, requiring boatloads of money and relationships. To believe you can become a successful concert promoter overnight is to believe you can shoot hoops in your backyard and instantly start for the Warriors.

    Come on, we've seen this movie before. Nearly fifty years ago. Acts were ignorant, promoters were greedy and the experience was bad. INDOORS! Every outdoor festival was a financial disaster, sure, socially it showed that zillions of people could get together and celebrate their culture without killing each other, except at Altamont, but it took eons to figure out American festival promotion. Hell, the Woodstock reprises just about put a stake in the paradigm.

    But you've got celebrities and athletes testifying as to its worth so it's worthy, right?

    WRONG!

    That's the seamy underbelly of today's world. Everybody's being paid, no one's being trustworthy. Near-unknowns feature products in YouTube clips and if you've got an audience there are corporations itching to give you money to promote their products and no one does any due diligence, other than to see that they're gonna get paid.

    And you've got an ignorant populace that believes you can cut taxes on everybody and have the economy boom and that each and every fan is entitled to a front row seat at sticker price.

    And you wonder why disasters like this happen.

    Focus first on the attendees. Why in the hell did they pay to go? Looking themselves in the mirror like Stuart Smalley and saying they're hip enough, cool enough and rich enough that they deserve to go on a private island getaway where they can revel in their status. Wrong! You can't buy your way inside, backstage is off limits, you've got to earn that. So when someone says if you just pay enough you're a member of the club, know that the club is not worth joining or you're not getting inside. Yup, buy that platinum McCartney ticket and expect to have a long dinner with Sir Paul. Ask him about his marriages, discuss your children's schooling. He really cares, he really does. Just like Adele and all of the other acts you want to see.

    You're just one of a zillion fans, admit it. Either get on the bandwagon early and see them in a club or overpay on StubHub to be thrilled to be inside the building.

    So I've got no sympathy for the wankers who bought in to this festival, this is the same Instagram crowd spending all their time illustrating they're better than you and me, forget it.

    And then there's the greed of the promoters.

    That's right, festivals are one of the few places where promoters can actually make beaucoup bucks. Otherwise all the revenue just goes to the acts. Create an event and you can get rich. But history tells us most events lose money for years. So, only those with deep pockets in the business continue, make the investment. Believe me, without Staples and the 02, AEG would not be launching new festivals, something's got to make up for the loss.

    But everybody's greedy, everybody's looking for the easy buck. We keep reading how everybody's getting paid, why can't I? The techies, the influencers, all the empty suits.

    So you end up feeling powerful that you can post, but this isn't the media of yore, where only a few outlets could afford ink, it's essentially free to everyone, all you need is an internet connection to complain.

    And complain you do. About Fyre Festival, United Airlines, the service at the local emporium. Makes you feel good, that you've got a voice, right?

    No, the truth is the techies and the corporations and the politicians are running circles around you, most negative publicity is just a blip on the radar screen, United broke that musician's guitar and then its stock went UP!

    So what we've got here is bread and circuses for the masses, while the rich and powerful rape and pillage. And, as per usual, the sea of nobodies would rather take down a celebrity with a name, whom they know, like Ja Rule, than educate themselves and take down someone really powerful, like Robert Mercer, or the whole damn Federalist Society.

    Don't know what that is?

    Then you don't know why Dubya became President and Gorsuch is on the Supreme Court and if you don't think those things matter, you're not a relative of one of those guys who the state killed after our new Justice tilted the table and said it was o.k.

    Actions have consequences. Which is why this Fyre Festival is such a disaster.

    But the inability to educate oneself, to wrestle with the big issues, to take a stand, is a much bigger problem.

    Just read the front page of the newspaper.

    Oh, you don't have to, you get all the news you need on Facebook!


    --
    Visit the archive: http://lefsetz.com/wordpress/?utm_so...=Fyre+Festival
    Stopped reading when he made it about Trump. What a loser. Blog ratings are falling.
    --------------------------------------------------------------------------------------------
    Chaps' 2017-18 NFL $$ Thread

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    I might have to up my sentence prediction if these numbers are true.

    http://pagesix.com/2017/07/01/failed...ium=SocialFlow

    Disgraced Fyre Festival promoter Billy McFarland faced the music Saturday for the glitzy, glamorous Bahamas bash that never happened.

    McFarland, clad in a pale-blue T-shirt and black slacks — with briefs depicting brown deer sticking out of his pants — appeared in Manhattan federal court to face a wire-fraud charge.

    But at his arraignment he was broke enough to have a public defender, Sabrina Shroff. McFarland didn’t have the dough for private lawyers, she said.

    McFarland, 25, glanced frequently and nervously at his lawyer and mumbled, “Yes, sir” when questioned by federal Magistrate Judge Kevin Fox.

    His bail was set at $300,000. McFarland plans to move in with his parents, who sat in the back of the courtroom looking anguished.

    Prosecutor Kristy J. Greenberg asked for $500,000 bail, saying it was clear McFarland “did not understand the gravity and severity of the charges until now.”

    “You’re talking about industrial losses of tens of millions of dollars,” she said. The feds allege that as many as 85 investors were bilked.

    Ja Rule owes $3M over Fyre Festival: lawsuit
    Greenberg repeatedly referred to McFarland’s “lavish lifestyle” as proof he should have a higher bond.

    Two months before the doomed Fyre Festival was supposed to go off on the Bahamian island of Great Exuma, McFarland moved into a $21,750 penthouse, Greenberg said. “Clearly there’s money somewhere,” she remarked.

    Shroff said McFarland is no flight risk, noting that he has no assets and that the FBI has taken his passport.

    Shroff said McFarland was paying off a $100,000 Maserati, which prosecutors tried to claim as an asset.

    McFarland was busted at his Manhattan home around 6 p.m. Friday. He had $5,000 cash on him.

    Fyre Festival was supposed to stretch over two weekends in April and May. McFarland organized the event with rapper Ja Rule, who was not charged.

    McFarland and Ja Rule convinced moneyed millennials and music lovers to part with thousands of dollars for tickets by promising they would rub shoulders with a bevy of beach beauties and chill with big-name music acts like Blink-182 and the rap trio Migos.

    The paradisiacal promise turned out to be a weekend of misery with lousy accommodations and food fit for a prisoner.

    McFarland appeared flustered after emerging from court on Saturday. “I’d love to speak. I’d love to say something. We’ll set it up soon at a better time,” he stuttered to a Post reporter.

    The wire-fraud charge carries a maximum jail term of 20 years. McFarland is due back in court July 7.
    Hope all that cash he has stashed somewhere is worth the time in prison he is looking at. I still can't understand how we are at tens of millions, and where that number came from. But 85!! investors?? Holy shit this was WAY bigger scam than anyone realized. He is looking at some serious time.

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    King of Lost Wages LarryLaffer's Avatar
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    Quote Originally Posted by NaturalBornHustler View Post


    figures.

    I wonder if he got the 5k back or if they state just took it like they did to me.
    "Winning is the most important thing in my life, after breathing. Breathing first, winning next."

    George Steinbrenner

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    BUMP

    Good article about Billy McFarland: http://www.vanityfair.com/news/2017/...rketing-fiasco

     
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      sonatine: vanityfair killing it as usual

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    BBBBBUMP

    McFarland pleads not guilty at preliminary hearing, but it is headed toward a possible plea deal: http://variety.com/2017/music/news/f...nd-1202578187/

    Here's an article about his lol Magnises company, which was also mostly a scam: http://fortune.com/2017/08/30/fyre-f...land-magnises/

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    https://www.cnbc.com/amp/2018/03/06/...investors.html


    More Fyre festival fail follow up (similar to previous post). This whole story intrigued me as to how much Fail there was........has Ja Rule said anything else other than “it’s not my fault”

    Druff, you should do a follow up on this on a slow news week

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    Owner Dan Druff's Avatar
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    From Variety:

    http://variety.com/2018/biz/news/fyr...at-1202731046/

    As an aside, in the early 2000s, Variety got the idea I was an industry person, and aggressively pursued me to subscribe.

    I think maybe a casting agency, which cast me into 3 game/reality shows which never panned out for various reasons, may have sold my info or something.

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    Gold Shizzmoney's Avatar
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      duped_samaritan:
      
      splitthis: Seemoney
    http://www.miraclecovers.com

    "Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online

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    Diamond mulva's Avatar
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    maybe he'll get a law degree while on the inside

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    Quote Originally Posted by bottomset_69 View Post
    Johnny Manziel will be the 1st pick in the draft. I truly believe not only will Johnny Manziel be rookie of the year, quite possibly he will be MVP as his style will shock defensive coordinators. Manziel may only be 6 feet tall, but he has size 15 feet. And he has HUGE hands. I know some NFL scouts so I know what I am talking about.



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    Owner Dan Druff's Avatar
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    Six years is actually a short sentence considering the level of fraud that occurred here, and the massive number of victims.

    I wonder if this dumbass will be able to convince more suckers in the future to invest in his harebrained ideas, even after everything that happened here.

    I can already hear the pitch.

    "FyreFest was actually huge. We had major bands ready to play, major Instagram influencers onboard, almost got $25 million funding from Comcast, and even Ja Rule was closely involved. The buzz was that we had created the next Coachella! Then unfortunately we ran into some logistical issues with the planning, plus the weather on the island was unexpectedly bad. Due to our inexperience, the entire thing fell apart, and the media vilified us. But as you can see, we had created something with huge potential, and just fell a tiny bit short of the goal line due to being new at everything. But listen to this new idea... this one can't fail..."

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    100% Organic MumblesBadly's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Six years is actually a short sentence considering the level of fraud that occurred here, and the massive number of victims.

    I wonder if this dumbass will be able to convince more suckers in the future to invest in his harebrained ideas, even after everything that happened here.

    I can already hear the pitch.

    "FyreFest was actually huge. We had major bands ready to play, major Instagram influencers onboard, almost got $25 million funding from Comcast, and even Ja Rule was closely involved. The buzz was that we had created the next Coachella! Then unfortunately we ran into some logistical issues with the planning, plus the weather on the island was unexpectedly bad. Due to our inexperience, the entire thing fell apart, and the media vilified us. But as you can see, we had created something with huge potential, and just fell a tiny bit short of the goal line due to being new at everything. But listen to this new idea... this one can't fail..."
    Do you have any stats on fraud sentences in the US to make this statement? Or is it just how you feel given your understanding of the case? I ask this because it is my impression that white collar crime tends to garner relatively shorter prison sentences than the aggrieved probably would like versus other types of crimes.
    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

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    Owner Dan Druff's Avatar
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    Quote Originally Posted by MumblesBadly View Post
    Quote Originally Posted by Dan Druff View Post
    Six years is actually a short sentence considering the level of fraud that occurred here, and the massive number of victims.

    I wonder if this dumbass will be able to convince more suckers in the future to invest in his harebrained ideas, even after everything that happened here.

    I can already hear the pitch.

    "FyreFest was actually huge. We had major bands ready to play, major Instagram influencers onboard, almost got $25 million funding from Comcast, and even Ja Rule was closely involved. The buzz was that we had created the next Coachella! Then unfortunately we ran into some logistical issues with the planning, plus the weather on the island was unexpectedly bad. Due to our inexperience, the entire thing fell apart, and the media vilified us. But as you can see, we had created something with huge potential, and just fell a tiny bit short of the goal line due to being new at everything. But listen to this new idea... this one can't fail..."
    Do you have any stats on fraud sentences in the US to make this statement? Or is it just how you feel given your understanding of the case? I ask this because it is my impression that white collar crime tends to garner relatively shorter prison sentences than the aggrieved probably would like versus other types of crimes.
    No stats, and you're right about fraud getting lighter sentences than violent crime, because nobody gets physically hurt from it.

    However, this was a pretty bad fraud case. It was for tens of millions of dollars, and it affected a very large number of people.

    They probably made the plea deal with him because, while clearly guilty, MacFarland could have presented himself as "young, idealistic guy in over his head, who meant well but made some bad decisions out of delusion" rather than an opportunistic criminal. So he could have ultimately have received a lesser sentence, and they probably didn't want to chance that.

    MacFarland did have one advantage for his defense, in that he wasn't just looking to steal from people. He really wanted FyreFest to occur, and he really wanted it to be a big deal. He even laughably showed up and attempted to direct the whole thing when it was clear that the event was going to be an epic disaster.

    He reminds me in some way of the Full Tilt board. They also weren't looking to steal from people. They just committed fraud and stole to keep their business afloat, and convinced themselves that it would all work out in the end. Kinda the same thing here.

    Not making excuses for the guy, and he had a shady past prior to this. Personally I'd like to see him in prison longer because of all the harm he knowingly and selfishly caused, but I can see how prosecutors might have found this one tricky. It wasn't necessarily easy to paint him as a cold-hearted criminal.

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    100% Organic MumblesBadly's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Quote Originally Posted by MumblesBadly View Post

    Do you have any stats on fraud sentences in the US to make this statement? Or is it just how you feel given your understanding of the case? I ask this because it is my impression that white collar crime tends to garner relatively shorter prison sentences than the aggrieved probably would like versus other types of crimes.
    No stats, and you're right about fraud getting lighter sentences than violent crime, because nobody gets physically hurt from it.

    However, this was a pretty bad fraud case. It was for tens of millions of dollars, and it affected a very large number of people.

    They probably made the plea deal with him because, while clearly guilty, MacFarland could have presented himself as "young, idealistic guy in over his head, who meant well but made some bad decisions out of delusion" rather than an opportunistic criminal. So he could have ultimately have received a lesser sentence, and they probably didn't want to chance that.

    MacFarland did have one advantage for his defense, in that he wasn't just looking to steal from people. He really wanted FyreFest to occur, and he really wanted it to be a big deal. He even laughably showed up and attempted to direct the whole thing when it was clear that the event was going to be an epic disaster.

    He reminds me in some way of the Full Tilt board. They also weren't looking to steal from people. They just committed fraud and stole to keep their business afloat, and convinced themselves that it would all work out in the end. Kinda the same thing here.

    Not making excuses for the guy, and he had a shady past prior to this. Personally I'd like to see him in prison longer because of all the harm he knowingly and selfishly caused, but I can see how prosecutors might have found this one tricky. It wasn't necessarily easy to paint him as a cold-hearted criminal.
    Yet, Peter Falcone, aka Peter DC, who is DEFINITELY a cold-hearted criminal who intentionally cheats people, is only given short prison/jail sentences. Fuckers like him should definitely be made to work hard labor for many years, with any pay he receives in prison going towards paying back his victims.
    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

  19. #119
    Plutonium sonatine's Avatar
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    6 years is about right, its not like he got to keep the money either.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Plutonium sonatine's Avatar
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    jan 18.

     
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      Tellafriend:
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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