Having had a run in with the law (not drug related) i can tell you that money means quality in terms of lawyers. Tell him to cut his losses and get a good one, NOW.
He shouldn't be making any statements or speaking to the police AT ALL without a lawyer sitting next to him. Im just hoping he hasn't spilled his guts already, because he wouldn't have been obligated to say anything.
I made this mistake, they make you think you have to speak when in reality, you dont.
I'd say jail time is almost a certainty though, he was caught at an event so immediately the judge is going to see that he was trafficking, no chance of claiming personal use
Good luck though, maybe one day the fuck heads who run this country can realise that this "war on drugs" is doing more damage than its solving. Your mate gets busted, i could name 40 people I KNOW who probably have just as much drugs on them now. And im not bragging, more stating the fact that busting small time pushers is just not working, and never will.