The organizers of the doomed Fyre Festival are now facing a lawsuit from lenders who allege they’re missing millions
|05/16/2017||Posted by BusinessMediaguide.Com under General World News||
In the days and weeks leading up to the spectacular disaster that was Fyre Festival, organizers Billy McFarland and Ja Rule allegedly borrowed up to $7 million as they scrambled to get the event set up in time, according to a new report by Bloomberg.
Ezra Birnbaum, who is associated with lender EHL Funding LLC, is now suing the pair of organizers for defaulting on a $3 million loan. The complaint alleges that Birnbaum’s firm was supposed to be reimbursed in part after Fyre Media received credit-card payments from festivalgoers who had loaded funds onto their “Fyrebands.”
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