'Fyre Festival' has confirmed the dates and location for its "real return" later this year

Now, he has announced the festival's comeback between May 30 and June 2 at Mexico's Isla Mujeres.

In a statement, McFarland - who was released from jail in 2022 - said: "I'm sure many people think I'm crazy for doing this again. but I feel I'd be crazy not to do it again.

"After years of reflection and now thoughtful planning, the new team and I have amazing plans for Fyre 2.

"The adventure seekers who trust the vision and take the leap will help make history. Thank you to my partners for the second chance."

In an Instagram post titled "Fyre Festival 2 is real", the team added: "Fyre 2 is a three-day escape to the Mexican Caribbean where you'll explore by day alongside your favourite talent and come together at night to celebrate with music."

Organisers have also promised "adventures led by international and local talent, taking guests on boundary-pushing excursions by day and uniting for intimate beach-side performances at night".

There are currently no bands announced for the event, while the original 2017 festival was reportedly set to feature the likes of Blink-182, Major Lazer, Disclosure, Tyga, Pusha T and Migos.

After the pre-sale sold out last year despite no dates or location being announced at the time, tickets are now on sale for between $1,4000 and $1.1 million.

Several models, including Bella Hadid, were hired to promote the original 2017 festival - which is the subject of Netflix documentary 'Fyre' - and revellers paid between $1,200 to $100,000, only to arrive and find out they would have to sleep in tents rather than luxury accommodation.

In March 2018, McFarland admitted to using fake documents to persuade investors to put more than $27 million into his Fyre Media Inc company.

His co-founder Ja Rule was not arrested - and there was no suggestion he had any connection or involvement with the fraud.