In the past week, Instagram models Bella Hadid, Kendall Jenner and Emily Ratajkowski among others and their talent agencies have been served subpoenas by the court-appointed investigator diving deep into the Fyre Festival’s financials. In addition, music talent agencies CAA, Paradigm and ICM have been served regarding $1.4 million in up-front payments for talent which was booked to perform at the event. According to court documents, $5.3 million were sent to the Instagram model’s agencies.
Court trustee Gregory M. Messer noted he may attempt to demand the money paid to Fyre Fest artists based on the fact that “not a single performer ever showed up to, much less performed at, the festival.”
The festival forwarded $250,000 to CAA for booking Blink 182. ICM Partners, who repped performers Rae Sremmurd, Migos and Lil Yachty at the time. Formerly independent agencies Windish and AM Only, who were absorbed by Paradigm in early 2017, received $447,500 and $242,500, respectively, as advance payment for Major Lazer and Disclosure. Lastly, $215,000 was sent to NUE Agency, a New York firm which touts it “brings artists big opportunities that help them align with brands through identifying synergies.”
Billy McFarland the founder of the ill-fated event did not keep accounting records and is not being cooperative with authorities leading to major gaps in the financial numbers available. Messer’s note to the court on the basis for requesting the subpoenas was due to McFarland’s “failure to file required schedules and a statement of financial affairs has required the Trustee to uncover as much information as he can from third parties in order to gain a full understanding of (McFarland’s) financial affairs. In this case, the (talent agencies) are the only source the Trustee has to gain a full understanding of the nature of the (wire) transfers.”
Other parties being investigated are Ja Rule, Jerry Media who (masterfully) orchestrated the social media campaign then participated in the Netflix documentary and various food and travel vendors.
