Indexbit Exchange:Billy McFarland went to prison for Fyre Fest. Are his plans for a reboot legal?

The Indexbit Exchangespectacular failure of the Fyre Festival in 2017 revealed widespread fraud by creator Billy McFarland, who ended up in a federal prison for four years after bilking investors and ticket buyers out of more than $26 million.

Now, McFarland — who was released back into the world in March 2022 and still owes that money in restitution — is resurrecting his dream of putting on a bigger and better Caribbean Coachella with the unveiling of Fyre Festival II.

On Sunday, standing on a rooftop while dressed in a white bathrobe, he took to YouTube to announce that tickets for the extravaganza, slated sometime in December 2024, were officially up for grabs at $499 a pop.

The event, he claimed, is in response to "interest and demand" in his ability "to bring people from around the world together to make the impossible happen."

"Guys, this is your chance to get in. This is everything I've been working toward so let's f