Sentencing delayed in case involving Saints

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Published: January 13,2011

Tags: courts, investing, movies, scams, sports, taxes

NEW ORLEANS — Sentencing is being delayed until April 6 for the head of a defunct movie studio who pleaded guilty to selling $1.9 million in nonexistent tax credits to members of the New Orleans Saints.

On May 13, Wayne Read pleaded guilty to interstate transportation of stolen funds and wire fraud. He once ran Louisiana Film Studios, LLC, in suburban New Orleans.

Authorities say Read peddled state film industry tax credits to investors, including Saints head coach Sean Payton and quarterback Drew Brees. But state officials said the credits were never applied for.

According to a federal court filing, authorities say Read needs more time to review a pre-sentencing background report.

Read faces up to 30 years in prison. He had been scheduled for sentencing Jan. 19.

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