(AllHipHop News) EHL Funding lent Ja Rule and convicted felon Billy McFarland $3 million to help cover the costs of the festival just days before the disaster on the Great Exuma Island, in the Bahamas.
Ja Rule and his partner Billy McFarland were supposed to to be making payments on the loan, but both men went silent after the calamitous turnout of the Fyre Festival.
EHL promptly filed a lawsuit against Ja Rule and Billy McFarland, but luckily for the rapper, he was not included in the judgment.
But Billy McFarland was not so lucky, and he must pay a default judgment of $2.8 million.
He never even bothered to reply the lawsuit, as he serves out his six-year sentence for blowing millions of dollars of investors money.