Promoter of failed Fyre Festival pleads guilty to fraud

NEW YORK --- The 26-year-old promoter of the failed Fyre Festival in the Bahamas -- once billed as the "cultural experience of the decade" -- pleaded guilty to wire fraud charges on Tuesday, agreeing to serve up to a decade in prison for lying to investors who lost over $26 million.   Billy McFarland entered the plea in Manhattan federal court in a deal with prosecutors that suggested he serve between eight and 10 years in prison. He can request leniency.   "I deeply regret my actions, and I apologize to my investors, team, family and supporters who I let down," a chastened McFarland told United States District Judge Naomi Reice Buchwald.   He sai...Keep on reading: Promoter of failed Fyre Festival pleads guilty to fraud

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