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Promoter freed on bail after initial court appearance in NYC

Associated Press logo Associated Press 7/1/2017
Billy McFarland, right, is followed by reporters as he leaves federal court after his arraignment, Saturday, July 1, 2017, in New York. McFarland is charged with scheming to defraud investors in his company, Fyre Media. McFarland's Fyre Festival was billed as an ultra-luxurious event with headliners including rockers Blink-182 and the hip-hop act Migos, but the show was canceled after performers bowed out. (AP Photo/Mary Altaffer) © The Associated Press Billy McFarland, right, is followed by reporters as he leaves federal court after his arraignment, Saturday, July 1, 2017, in New York. McFarland is charged with scheming to defraud investors in his company, Fyre Media. McFarland's Fyre Festival was billed as an ultra-luxurious event with headliners including rockers Blink-182 and the hip-hop act Migos, but the show was canceled after performers bowed out. (AP Photo/Mary Altaffer)

NEW YORK (AP) — The promoter of a failed Bahamas music festival has been freed on bail a day after he was arrested on a fraud charge.

Billy McFarland, right, leaves federal court with his attorney Sabrina Shroff after his arraignment, Saturday, July 1, 2017, in New York. McFarland is charged with scheming to defraud investors in his company, Fyre Media. McFarland's Fyre Festival was billed as an ultra-luxurious event with headliners including rockers Blink-182 and the hip-hop act Migos, but the show was canceled after performers bowed out. (AP Photo/Mary Altaffer) © The Associated Press Billy McFarland, right, leaves federal court with his attorney Sabrina Shroff after his arraignment, Saturday, July 1, 2017, in New York. McFarland is charged with scheming to defraud investors in his company, Fyre Media. McFarland's Fyre Festival was billed as an ultra-luxurious event with headliners including rockers Blink-182 and the hip-hop act Migos, but the show was canceled after performers bowed out. (AP Photo/Mary Altaffer)

Billy McFarland left Manhattan federal court Saturday with Assistant Federal Defender Sabrina Shroff.

Billy McFarland leaves federal court after his arraignment in New York on Saturday, July 1, 2017. McFarland is charged with scheming to defraud investors in his company, Fyre Media. His Fyre Festival was billed as an ultra-luxurious event with headliners including rockers Blink-182 and the hip-hop act Migos, but the show was canceled after performers bowed out. (AP Photo/Mary Altaffer) © The Associated Press Billy McFarland leaves federal court after his arraignment in New York on Saturday, July 1, 2017. McFarland is charged with scheming to defraud investors in his company, Fyre Media. His Fyre Festival was billed as an ultra-luxurious event with headliners including rockers Blink-182 and the hip-hop act Migos, but the show was canceled after performers bowed out. (AP Photo/Mary Altaffer)

McFarland was charged Friday with scheming to defraud investors in his company, Fyre Media.

The charges stem from McFarland's promotion of the Fyre Festival. It was 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 canceled.

Prosecutors say the 25-year-old McFarland used fake documents to trick investors. He was freed on $300,000 bail, telling reporters he'd love to speak but can't.

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