Film tax-credit scam that ensnared dozens with ties to New Orleans Saints leads to guilty plea

Saintswrath · 05-13-2010, 08:47 PM

The head of a defunct Elmwood movie studio pleaded guilty Thursday to federal charges of selling $1.9 million in nonexistent film-industry tax credits to at least 27 current and former members of the New Orleans Saints organization.

Wayne Read, 45, of Illinois, who once ran Louisiana Film Studios LLC, pleaded guilty to interstate transportation of stolen funds and wire fraud.

Among those who bought tax credits from Read are Saints head coach Sean Payton, quarterback Drew Brees and former Saints star Archie Manning. But state officials said Read never actually applied for the credits.
Film tax-credit scam that ensnared dozens with ties to New Orleans Saints leads to guilty plea | - NOLA.com

05-13-2010, 08:47 PM	#1
Saintswrath +Mod Join Date: Oct 2005 Location: Between 504 & 813 Posts: 1,776 Blog Entries: 4	Film tax-credit scam that ensnared dozens with ties to New Orleans Saints leads to guilty plea The head of a defunct Elmwood movie studio pleaded guilty Thursday to federal charges of selling $1.9 million in nonexistent film-industry tax credits to at least 27 current and former members of the New Orleans Saints organization. Wayne Read, 45, of Illinois, who once ran Louisiana Film Studios LLC, pleaded guilty to interstate transportation of stolen funds and wire fraud. Among those who bought tax credits from Read are Saints head coach Sean Payton, quarterback Drew Brees and former Saints star Archie Manning. But state officials said Read never actually applied for the credits. Film tax-credit scam that ensnared dozens with ties to New Orleans Saints leads to guilty plea \| - NOLA.com Attached Thumbnails