Kendall Jenner, Hailey Baldwin and Bella Hadid face subpoenas over Fyre Festival video

The latest subpoenas aim to understand where $5.3m in payments went

Fyre Festival’s financial issues are far from over – as the models and influencers involved in creating the promotional video for the failed festival may soon face subpoenas over the payments they received.

Talent agencies that represented some of the models featured in the video, including Bella Hadid, Hailey Baldwin, and Emily Ratajkowski, are the latest to come under scrutiny, according to Billboard, which reports that Fyre Media bankruptcy trustee Gregory Messer plans to subpoena IMG Models.

Kendall Jenner is also expected to receive a subpoena for her involvement in the promotion of the 2017 festival.

The subpoenas are meant to help investors understand where the reported $26m raised by Billy McFarland, the convicted fraudster behind the festival, went.

According to Billboard, in the weeks leading up to the festival, McFarland, who is serving six years in jail, paid out $11.3m to talent.

Earlier this month, a judge signed off on subpoenas for talent agencies such as Paradigm and on Friday Messer requested more subpoenas for the agencies representing the models and social media influencers involved in the promotion of the festival.

In two documentaries about the festival recently released on Hulu and Netflix, the focus is largely on the promotional video released ahead of the festival, which saw a number of supermodels frolicking in the Bahamas as part of a week-long video- and photo-shoot.

The models also posted on Instagram as part of the promotional campaign.

IMG reportedly received $1.3m from McFarland and Jenner received a reported $250,000 for her one Instagram post about the festival – which has since been deleted – that suggested members of the GOOD Music record label would be performing.

Jenner later received a warning from the Federal Trade Commission for failing to disclose that her post was sponsored.

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Models pose in the Bahamas for Fyre Festival (Instagram)

In addition to the models and influencers, Messer also plans to subpoena artists Soulja Boy and Waka Flocka Flame and online advertising agency Jerry Media, as well as festival consultants.

The new filing aims to understand where $5.3m of the money went.

The Independent has contacted Mr Messer and IMG Models for comment.