Fyre Festival organizers hit with $3 Million lawsuit
Based on the legal documents related to the suit, Ja Rule and McFarland took $3 million from EHL Funding LLC on April 10.
Apparently, the millions that the duo loaned was meant to cover the costs of the Fyre Festival. Rule and McFarland were supposed to make payments every week but EHL said that after a few on-time payments amounting to less than $900,000, they haven’t received anything else since April 21.
Considering that it has been three weeks since EHL Funding received payment, the company is now suing to get their money back, including interest. According to court papers, full repayment is due by May 31.
For the record, EHL’s case is the seventh lawsuit filed against Ja Rule and McFarland because of the failed Fyre Festival.
It can be recalled that the festival was much talked about and was even promoted on Instagram by popular models like Bella Hadid, Emily Ratajkowski and Kendall Jenner.
It was advertised to be a luxury music festival scheduled to take place on the Bahamian island of Great Exuma over two weekends in April and May 2017. The event sold tickets costing between $1,200 to $200,000 and promised to be an exclusive weekend of music, luxury cuisine, and celebrities but none of the promotions ever came true.
In fact, the event was indefinitely postponed after festival-goers had already arrived. Social media was exploding with guests who were reportedly stranded without access to food or water as flights to and from the island were canceled following the postponement of the event.
In a $100 million lawsuit filed against Ja Rule and McFarland, the lawyers dubbed the festival as a “Pozi scheme” since the duo already knew that the festival would be a disaster yet they still thought they could scam a lot of ticket money from wealthy millennials before the problem become evident.