The second instalment of the Fyre Festival has been postponed indefinitely, its organisers have revealed.

The new date has not been announced and all ticket holders were informed by email that they had been refunded.

The event was due to take place from May 30 to June 2 in Playa del Carmen, Mexico.

Fyre Festival 2 was created by Billy McFarland, who was sentenced to six years in jail for fraud for stealing $26 million (£19.6 million) from customers during the first rendition of the festival in 2017.

The 2,000 tickets that went on sale in February ranged from $1,400 (£1,056) to a staggering $1.4 million (£1 million).

At the time, McFarland 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.”