Billy McFarland continues to drown in financial repercussions from the Fyre Festival.
The felonious entrepreneur has been ordered to pay nearly $3 million to an investment company as a result of a lawsuit that he didn’t even bother responding to!
According to TMZ, EHL Funding sued the 27-year-old and Ja Rule for the $3 million they loaned them less than three weeks before the ill-fated musical festival was supposed to go down in April 2017. Billy was in dire need of capital for the event at the time, as he had already used up the millions from other investors on essentials like booze and Instagram promotion.
Video: Ja Leads A ‘F*ck You, Ja Rule’ Chant At His Own Concert
The docs state that EHL won a default judgement because Billy didn’t respond to the lawsuit. In his defense, though, he’s been a little preoccupied serving a six-year prison sentence for wire fraud.
The Fyre founder was ordered by a judge to cough up $2,891,600, plus 30 percent interest dating back to August 2017, as well as EHL’s attorney fees.
The rapper, who was also a defendant in the lawsuit, apparently isn’t responsible for paying any of the $3 mil. He doesn’t seem too bothered about it, either, telling TMZ:
“This is FAKE NEWS GUYS LOL.”
It will be inneresting to see if, when, or how the investment company manages to collect from the elusive Billy McFraudland.
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