Ja Rule & Billy McFarland
Nailed for $2.8 Mil in Fyre Fest Suit!!!
2/8/2019 7:21 AM PST
Billy McFarland and Ja Rule are gonna have to scrounge together about $3 mil to pay back an investment company that got screwed when Fyre Festival imploded … TMZ has learned.
EHL Funding sued Ja and Billy over $3 million they loaned the duo less than 3 weeks before Fyre Fest was supposed to go down in April 2017. As we all know now — courtesy of the Netflix and Hulu documentaries — McFarland was way over his head at that time and scrambling to get any and all financial support for the concert.
According to docs, EHL won a default judgment because neither Billy nor Ja responded to the lawsuit. McFarland’s been a little busy — he started serving a 6-year prison sentence for wire fraud last year.
The judge ordered them to fork over $2,891,600 … plus 30 percent interest dating back to August 2017 … and EHL’s attorney fees — which ya just know are gonna be enormous.
Big win for EHL … on paper. Collecting from these guys might be tough.
Source:: TMZ – Music News