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Billy McFarland — currently facing wire-fraud charges and a number of civil cases over the disastrous Fyre Festival — could have even more legal trouble.

An insider tells us the Securities and Exchange Commission has opened an investigation into his other company, Magnises, which began in 2014 as a card designed to resemble American Express’ Centurion, but tied to members’ checking accounts.

The brand reportedly raised more than $3 million in venture capital and eventually morphed into a concierge service offering tickets to plays and concerts. More than $1 million worth of the tickets — for events from Adele and Kanye West concerts to Broadway musical “Hamilton” — were purchased from third-party brokers using a Fyre corporate card and offered to Magnises members, according to an investigation by Vice News.

Reps for the SEC and McFarland had no comment.

Magnises’ Web site was shuttered in September. McFarland recently tried to sell off the business on online auction site Flippa claiming a yearly revenue of $9.7 million, Spin reported.

One user initially bid $150,000, then backed out.

In a last-ditch effort, McFarland relisted the site for sale for $1, but Flippa pulled the auction following an internal review.