NEW ORLEANS (AP) — New Orleans Saints head coach Sean Payton and his wife are suing the team’s former long snapper over a $144,000 investment tied to a now-defunct movie studio.
The federal suit is similar to one filed earlier by Saints tight end Jeremy Shockey and former defensive lineman Charles Grant against Kevin Houser, now with the Seattle Seahawks.
They paid for what they thought would be state movie industry tax credits returning $1.33 for each dollar they invested.
But state officials say Wayne Read, the CEO of the bankrupt Louisiana Film Studios LLC, never applied for the credits and the money was never returned to investors.
The Paytons’ suit says they paid Houser, a licensed securities dealer, $144,000 in late 2008 for what they thought would be $180,000 in tax credits.
