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Allegations of Orchestrated Fraud at a Bahamian Luxury Festival
The organizer of the Fyre Festival allegedly saw an opportunity for fraud when he and his friends noticed that no one called them out on a scam at their Bahamas home. The organizer attempted to legitimize the festival by co-opting the agriculture committee to move oversight from the SEC to the CFTC and succeeded in orchestrating a fraudulent scam rather than coincidental failure.