![Saints and the Movie Scam](http://townsquare.media/site/36/files/2011/02/drewbrees-300x200.jpg?w=980&q=75)
Saints and the Movie Scam
Court records show about $635,000 has been recovered in a bankruptcy case involving a Louisiana movie studio and a tax credit scam. The chief executive of defunct Louisiana Film Studios LLC collected $1.9 million from past and present members of the New Orleans Saints football team for state movie industry tax credits. But studio head Wayne Read never applied for the credits -- and never returned the money. Read is awaiting sentencing after he pleaded guilty to federal charges of interstate transportation of stolen funds and wire fraud. But a bankruptcy attorney says it's unclear how much investors may eventually get back since under bankruptcy law they are last in line for reimbursement.
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