Ja Rule Agrees To Cooperate In Fyre Festival Bankruptcy Investigation
(AllHipHop News) Ja Rule has decided to cooperate with a bankruptcy probe relating the failed Fyre Festival in the Bahamas last April.
According to reports, Ja has agreed to work with the trustee representing The Fyre Festival, in order to avoid coming under his microscope.
According to Gregory Messer, Ja agreed to cooperate in exchange for "the withdrawal of an extensive information request" into his role in the festival, which the rapper claims were minimal.
Gregory Messer is representing anyone who declares they are owed money from The Fyre Festival.
In August of 2017, a judge forced Fyre Festival into bankruptcy, after a number of lenders claimed they had invested tens-of-millions of dollars into the festival and lost all their money.
Organizers of the event are also facing a $100 million class-action lawsuit filed on behalf of all the festival attendees of the Fyre Festival, which was thought to be a luxurious event held in the Bahamas last April and May.
Tickets for the festival, which included headliners like Blink-182, Pusha-T and Lil Yachty were sold for $1500-$250,000.
It looks like Ja Rule will avoid criminal charges, but his business partner Billy McFarland is not so lucky.
McFarland is facing between 8-10 years in prison, after recently pleading guilty to defrauding over 80 investigators, by falsifying documents to get more cash to put on the ill-fated concert.
"I deeply regret my actions, and I apologize to my investors, team, family, and supporters who I let down," McFarland said.
A hearing regarding Ja Rule's cooperation is slated to take place on 4/26/2018.