The original Fyre was promoted by supermodels and celebrities as an exclusive getaway for the very rich, and the location was hyped as a private island once owned by drug lord Pablo Escobar.
Festival-goers arrived to find all the talent cancelled, bare mattresses to sleep on in storm-ravaged tents and cheese sandwiches in takeaway containers to eat.
McFarland was sentenced in 2018 to six years in jail for wire fraud, and was also ordered to return $29m to investors.
He was freed in 2022 under an early release programme but remains on probation until next August.
According to McFarland, tickets for next year will start at $1,400 but will go as high as $1.1m.
The most expensive package will include scuba diving, island hopping and luxury yachts.
He said the event was “not going to be just music” and could include sideshows like a live karate combat pit.
He admitted, however, that he has yet to book any talent.
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