News and Press Releases

ILLINOIS MAN SENTENCED TO 4 YEARS IN PRISON FOR DEFRAUDING SAINTS PLAYERS AND COACHES

FOR IMMEDIATE RELEASE
October 5, 2011

WAYNE READ, age 47, of Wonder Lake, Illinois, was sentenced today by United States District Judge Martin L.C. Feldman to 48 months in prison, announced U. S. Attorney Jim Letten. In addition, READ was ordered to make restitution in the amount of $1,855,700 to current and former players and coaches of the New Orleans Saints and will have to serve three (3) years of supervised release upon his release from prison. READ pled guilty on May 13, 2010 to Interstate Transportation of Stolen Funds and Wire Fraud in connection with the fraudulent sale of Louisiana Film Tax Credits which he sold to 27 current and former members, coaches and staff of the New Orleans Saints Football Organization.

According to documents filed in federal court, READ sold approximately $1.9 million false and fictitious 2008 Louisiana Film Tax Credits to members of the New Orleans Saints organization. At no time did READ provide or issue any tax credits to any of the victims. READ used these funds to pay off personal debts, including the prevention of a Sheriff’s sale of his personal residence and as satisfaction of a legal judgment.

This case was investigated by members of the Jefferson Parish District Attorney’s Office and the Federal Bureau of Investigation. The prosecution was handled by Assistant United States Attorneys James R. Mann, Salvador R. Perricone and Brian M. Klebba.

 

 

 

 

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