Fyre Festival Promoter Pleads Guilty to Wire Fraud Page Six reported that Billy McFarland is plead guilty to two counts of wire fraud on Tuesday afternoon, according to TMZ. McFarland promoted the infamous Fyre Festival, a music festival in the Bahamas, which cost guests up to $12,000 for a ticket. The festival turned to shambles when none of the promised high-end services were delivered. Guests were confined to tents and served pieces of bread with cheese. McFarland was able to raise more than $1 million in funds from investors and could face a sentence of 20 years.