The promoter of a failed Bahamas music festival has been freed on bail a day after being arrested on a fraud charge.
Billy McFarland, 25, left Manhattan federal court with his lawyer, assistant federal defender Sabrina Shroff on US$300,000 bail, telling reporters he would love to speak but could not.
McFarland was charged on Friday with scheming to defraud investors in his company, Fyre Media.
That would be Fyre Festival founder Billy McFarland, who has been arrested and charged with wire fraud.— William Needham Finley IV(It’s real. I made it up) (@WNFIV) July 1, 2017
The charges stem from McFarland's promotion of the Fyre Festival, billed as an ultra-luxurious event to take place on the island of Exuma over two weekends in April and May.
Ticket buyers were told headlines would include Blink-182 and the hip-hop act Migos, but performers backed out and the show was cancelled.
Acting US Attorney Joon Kim has said McFarland presented fake documents to induce investors to put more than US$1m into his company and the failed festival and "promised a 'life changing' music festival but in actuality delivered a disaster".