Fyre Festival promoters facing class action lawsuit

SAN FRANCISCO (KGO) -- A class action lawsuit has been filed after the debacle of what was billed as a luxury music festival in the Bahamas, and the lawyers for people who are suing over the Fyre Fest spoke out Tuesday.

Promotional video of the Fyre festival promised a fabulous time in the Bahamas with top notch music, luxury accommodations and glamorous millennials.

But now the two organizers, rapper Ja Rule and entrepreneur Bill McFarland have been hit with a $100 million class action lawsuit.

Guests who paid from a few thousand dollars all the way up to six-figures arrived on the island to find shelter that looked like emergency tents, cold cheese sandwiches instead of gourmet cuisine, no electricity, and no running water. Instead they found a site on lockdown.

We spoke exclusively this afternoon with an attorney from the firm Geragos & Geragos, which filed the federal lawsuit in Southern California.

"This quote-unquote festival was becoming increasing clear that from the onset this was akin to a ponzi scheme. And you had promoters taking money from the onset when they knew months ago about these dangers," Attorney Ben Meiselas said.

McFarland is the same entrepreneur who launched Magnises, which was billed as the ultimate social group for people in San Francisco, Washington DC and New York. Their website promises exclusive parties, secret performers, and special access to shows like Hamilton. There are 17 complaints with the better business bureau.

The organizers have apologized and promised a full refund, or VIP tickets to next year's festival.

As for the Bahamian government, it has announced a stricter vetting system for future festivals.