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Ja Rule facing lawsuit over Fyre Festival lawsuit loan

Rapper Ja Rule and his fellow Fyre Festival bosses have been slapped with a lawsuit over a $3 million (£2.3 million) loan for the cancelled event.
The Always On Time hitmaker teamed up with technology entrepreneur Billy McFarland to launch the inaugural luxury bash, which was set to take place over two weekends, starting on 28 April (17).
However, they failed to properly set up the site on the Great Exuma island in the Bahamas, and ticket holders, who had paid thousands to attend concerts by the likes of Major Lazer, Tyga, and Pusha T, were forced to stay in disaster relief tents instead of the plush villas they had been promised. The festival was axed on the morning of its planned launch, after all attendees were safely flown home.
According to TMZ, bosses at EHL Funding loaned Ja Rule, real name Jeffrey Atkins, and McFarland $3 million on 10 April (17), weeks before the festival. The funds were reportedly going to be used to help cover costs associated with the failed festival.
The executives have reportedly received weekly payments totalling $900,000 (£700,000), but have not been paid since 21 April (17). The executives claim Atkins and McFarland defaulted on the loan and they are suing for the funds plus interest.
The lawsuit news comes days after the rapper and McFarland were hit with a sixth class action lawsuit for $5 million (£3.9 million) for fraudulent misrepresentation, negligent misrepresentation, fraud in the inducement and violation of the Florida Unfair and Deceptive Trade Practices Act, and breach of contract.
Kenneth and Emily Reel, claim they paid $4,600 (£3,600) for their tickets to the festival, but they never made it to the Bahamas because they were stuck in Miami, Florida after the event was cancelled.

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