(KMOV)-- An Illinois man has been charged for allegedly defrauding members of the Saints organization.
U. S. Attorney Jim Letten said 46-year-old Wayne Read, of Wonder Lake, Illinois, was charged in a Bill of Information Tuesday with one count of Interstate Transportation of Stolen Funds and one count of Wire Fraud in connection with the fraudulent sale of Louisiana Film Tax Credits which he sold to current and former members, coaches and staff of the New Orleans Saints Football Organization.
According to the Bill, beginning in approximately January 2008 and continuing until approximately June 2009, Read sold approximately $1.9 million false and fictitious 2008 Louisiana Film Tax Credits to members of the New Orleans Saints organization. The Bill further alleges that at no time did Read provide or issue any tax credits to any of the victims. It is also alleged that 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.
If convicted, Read faces a possible maximum sentence of 20 years imprisonment, a fine of $250,000 and up to three years of supervised release as to the charge of Wire Fraud; and 10 years imprisonment, a fine of up to $250,000 and up to three years of supervised release as to the Interstate Transportation of Stolen Funds. The defendant may also be required to forfeit up to $1.9 million.
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