It goes from bad to worse for Fyre Festival.

The company behind Fyre Festival is under investigation by the FBI, the New York Times reports.

According to a source close to the matter, Billy McFarland’s Fyre Media is being investigated by the FBI for possible mail, wire and securities fraud. The investigation is being overseen by “a prosecutor assigned to the complex frauds and cybercrime unit.

Fyre Festival was originally meant to take place on a private island in the Bahamas at the end of April, but was cancelled after ticketholders complained of “refugee camp conditions” on arrival.

Celebrities including Kendall Jenner and Emily Ratajkowski had been drafted in to advertise the event on social media with posts that it later emerged broke advertising standards.

The collapse of the event has left many ticketholders and businesses out of pocket. In a leaked call, Fyre Media told staff they would not be getting paid, but were welcome “to stay and help out”.

MaryAnn Rolle, a restaurant owner in the Bahamas who rented villas to the festival crew and cooked them meals, told the New York Times that the debacle had left her $134,000 out of pocket. “I’m struggling”, she said.

According to the New York Times report, Blink-182 (who were booked to headline the aborted festival) currently have their equipment stuck in “customs limbo”.

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