U.S. Marshals just ended an auction where they sold items from Fyre Festival fraud scheme. Items included souvenir clothing, tokens, wristbands.
The online auction included 126 lots of minor assets from the fraudulent Fyre Festival planned by William “Billy” McFarland that was scheduled to occur in the Bahamas in 2017.
“This Fyre Festival-branded clothing and other items that were seized from Billy McFarland were originally intended to be sold at the Fyre Festival itself but were kept by McFarland, with the intent to sell the items and use the funds to commit further criminal acts while he was on pre-trial release,” said U.S. Marshal Ralph Sozio of the Southern District of New York.
“The proceeds from the sale of these items, all traceable to McFarland’s $26 million fraud, will go toward the victims of his crimes.”
McFarland engaged in a scheme to defraud over 80 investors in Fyre Media Inc. and Fyre Festival LLC, as well as a Fyre Festival ticket vendor, causing more than $26 million in losses.
According to Business Insider, hats were selling for more than $300 and a bid for a sweatshirt hitting $805, prices are nearly as absurd as the festival itself.
Billy McFarland, the architect of Fyre Festival, had originally planned to sell the goods at Fyre Festival.
Even after the event imploded and McFarland was arrested and charged with fraud, McFarland intended to sell the items while on pre-trial release, according to US Marshal Ralph Sozio.
“The proceeds from the sale of these items, all traceable to McFarland’s $26 million fraud, will go toward the victims of his crimes,” said Sozio in a press release.
The Federal Bureau of Prisons inmate locator shows McFarland currently in prison with a release date in 2023.