Fake Concert Promoter Bilked Investors for $1M, Feds Say

A Texas man who peddled fake promises of big returns as a concert promoter for A-list stars like Beyonce and Nicki Minaj has been charged with $1 million in fraud, the U.S. Attorney’s Office announced.

Carlos Desean Goodspeed, 43, of Dallas, operated under the assumed business name ‘Straight Like That Entertainment’ and allegedly solicited hefty investments from unsuspecting victims, promising returns as high as 50% in a short period of time.

According to the indictment, Goodspeed told investors he was working in partnership with a multinational event marketing company and would use their money to promote touring shows for top artists.

In one instance, he allegedly solicited $400,000 from a victim in July 2018, promising to pay back $650,000 within four months, claiming the funds would be used to promote shows for Nicki Minaj and Future.

The victim wired the money, but Goodspeed allegedly withdrew $200,000 to pay a court-appointed receiver in an SEC lawsuit, wired $20,000 to another investor, and withdrew $100,000 in cash and cashier’s checks. Only a fraction of the investment was repaid.

In January 2022, Goodspeed allegedly solicited $50,000 from another investor, claiming the funds would be used to purchase concert tickets and suites for an upcoming Tyler, the Creator show. Despite the show taking place as planned, Goodspeed did not return the principal or pay out the return as promised, making excuse after excuse.

Goodspeed eventually told the investor he would be paid in full after two additional concerts, but the investor wired an additional $130,000 to Straight Like That Entertainment, which Goodspeed allegedly used for personal expenses, including rental payments at an upscale apartment complex and a purchase at a high-end retail store.

As a result of Goodspeed’s alleged scheme, investors collectively suffered a loss of over $1 million.

An indictment is merely an allegation of criminal conduct, not evidence. Goodspeed is presumed innocent until proven guilty in a court of law.

If convicted, he faces up to 60 years in prison (20 years per count) on the three counts of wire fraud.

The Federal Bureau of Investigation’s Dallas Field Office conducted the investigation, and Assistant U.S. Attorney Renee Hunter prosecuted the case.