By | March 12, 2018

Billy McFarland, the man behind the disastrous Fyre Fest event, pled guilty to two counts wire fraud in connection with the Bahamian music festival on Friday (March 9) in Manhattan federal court.

According to Billboard, a judge ordered McFarland to repay $26 million after he admitted to stealing from investors. He's also facing eight to 10 years in prison.

"I deeply regret my actions, and I apologize to my investors, team, family, and supporters who I let down,” McFarland reportedly said in court when pleading guilty to both counts. He will be formally sentenced on June 21.

Outside his guilty plea, McFarland and Ja Rule (his partner in the Fyre Festival) are facing several lawsuits from festival-goers after the Fyre Festival fiasco in April 2017.

Guests reportedly paid between $1,000 and $12,000 for a luxury experience at the Fyre Festival in the Bahamas. Unfortunately, the entire trip turned into a “disorganized mess” as stranded attendees had to endure torned-up tents, a lack food, water and electricity as well as reported feral dogs wandering the festival grounds.

Among those who filed lawsuits against the pair include a plaintiff named Daniel Jung who has filed a $100 million class action lawsuit. Additionally, three more festival-goers are suing them for an undisclosed amount money.

Attorneys for Billy McFarland had no comment on the matter.