2017-05-16 — bloomberg.com
In the weeks before the Fyre Festival, organizers borrowed as much as $7 million in a last-minute bid to fund the doomed Bahamas music showcase, according to documents reviewed by Bloomberg News.
While recriminations and lawsuits multiply over the event's now-infamous collapse, almost $1 million is still unaccounted for, and it's unclear exactly how the rest was spent. Meanwhile, there's the open question of whether thousands of ticket-holders will get refunds, or if employees of the startup behind the festival, Fyre Media Inc., will be fully paid.Â
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