The Coachella-like event from hell still has the lawsuits piling up, RadarOnline.com has learned.
According to new reports, investor Oleg Itkin filed a lawsuit against the organizers this week, claiming William McFarland gave him misleading information about the event's expected revenue they'd earn by November 2017 — allegedly showing $932 million in earnings.
The Manhattan investor said in his court docs that he handed over $700,000 to the party planners from January to April, but was stunned when he heard it was a massive fraud from the beginning.
Itkin is demanding the organizers pay him back every penny, plus $250,000 in fees for the court battle.
As RadarOnline.com reported, investors aren't the only ones furious about the nightmare. Festival goers Chelsea Chinery, Shannon McAuliffe and Desiree Flores are suing Ja Rule, Billy McFarland and Fyre Media for breach of contract, negligent misrepresentation and fraud, after the Bahamas event caused chaos.
The lawsuit states that while the festival promised "stunning beach side villas, yachts with models draped over the top,"guests arrived to find "horrific conditions."
The suit also contends that organizers knew at least a month in advance that the event was doomed.
Although celebs like Bella Hadid and Emily Ratajkowski were reportedly warned to stay away, commoners were never called, they claimed.
Tickets to the high-profile event cost between $1,200 and $200,000. It was advertised as an exclusive weekend of music, luxury cuisine and celebrities.
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