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Man charged with defrauding members of Saints organization

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Posted: Mar 22, 2010 4:37 PM by Brett Troxler
Source: Department of Justice

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Topics: Wayne Read, Illinois, Louisiana film tax credits, New Orleans Saints, charge, wire fraud, stolen funds

A man was charged Monday in connection with the fraudulent sale of Louisiana film tax credits sold to current and former members, coaches and staff of the New Orleans Saints, according to U.S. Attorney Jim Letten.

Wayne Read, 46, of Wonderlake, Ill., faces one count of interstate transporation of stolen funds and one count of wire fraud.

According to the bill of information, Read allegedly sold approximately $1.9 million false and fictitious 2008 Louisiana film tax credits between January 2008 and June 2009. The bill further alleges that at no time did Read provide or issue any tax credits to any of the victims.

If convicted, Read faces a possible maximum sentence of 20 years and a fine of $250,000 for the wire fraud charge, and up to 10 years imprisonment and another three years supervised release with a maximum fine of $250,000 for the charge of interstate transportation of stolen funds.

The case was investigated by members of the Jefferson Parish District Attorney’s Office and the FBI.

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