Per The New York Times, McFarland pleaded guilty to two counts of wire fraud after it was revealed that he had defrauded investors of Fyre Media, the company which helped establish the festival that wasn't. In July, he pleaded guilty to two counts of fraud again, this time due to a separate company that he created (while he was out on bail, no less!) which sold fake tickets to events like the Grammys and the Met Gala.