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Ex-movie studio head's sentencing delayed

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Posted: Sep 29, 2010 2:07 PM by Brian Waldrep
Source: Associated Press

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Topics: Movie, Studio, Head, Sentencing, Delayed

Sentencing for the former head a movie studio in New Orleans is being delayed until January 19.

Wayne Reed pleaded guilty to selling $1.9 million in nonexistent tax credits to members of the New Orleans Saints.

Reed once ran Louisiana Film Studios LLC.

Authorities say Reed peddled state film industry tax credits to investors, including Saints head coach Sean Payton and quarterback Drew Brees.

Authorities say more time is needed to investigate Reed's background before sentencing.

Reed faces up to 30 years in prison.

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