The festival was scheduled to take place in the Bahamas over two weekends in Spring 2017, promoted by businessman Billy McFarland and rapper Ja Rule.
The models who received money to help promote the failed Fyre Festival will be forced to reveal information about how much they were paid for their services, according to a new court filing reviewed by multiple reports.
The investigation by Gregory Messer, the court-appointed trustee overseeing Fyre Media'sliquidation, could see the likes of Kendall Jenner, Bella Hadid, Hailey Bieber, and Emily Ratajkowski issued with subpoenas to track down what happened to $26 million in investor cash.
Ratajkowski earned $299,000 for her work with Fyre Festival, according to court records, Billboard reported.
The aim is to find out exactly where the $26 million McFarland raised from investors went, subpoenas have reportedly been signed off for talent agencies who represent some of the artists booked for the festival. Four months later, she promoted the event on Instagram without indicating that she was being paid for the post; sparking a warning from the Federal Trade Commission about rules for sponsored posts on social media. Messer also wants to subpoena 16 other companies involved in catering, drinks, and transportation at the festival.
DNA did not immediately return PEOPLE's request for comment, while IMG Models had no comment.
According to Capital FM, "Stars like Emily Ratajkowski, Elsa Hosk and more were paid to raise the buzz around the festival on social media, but the event was so poorly organised that attendees ended up losing thousands of pounds [dollars] when it got called off at the last minute".
This latest development in the Fyre Festival bankruptcy proceedings comes just a few weeks after the release of two separate investigative documentaries on the disastrous music non-event, produced by Hulu and Netflix.
Tents set up for the Fyre Festival. "I initially trusted this would be an wonderful & memorable experience for all of us, which is why I agreed to do one promotion...not knowing about the disaster that was to come..."
McFarland was arrested and charged with wire fraud in June 2017, and was later convicted in October 2018 after which he was sentenced to six years in prison. I feel so sorry and badly because this is something I couldn't stand by, although of course if I would have known about the outcome, you would have all known too.