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Concert Promoter Arrested on Federal Fraud Charges
LOS ANGELES – Gabriel Martin Reed, 46, a former Malibu resident who recently relocated to Las Vegas, Nevada, has been arrested on federal wire fraud charges in a case that alleges he defrauded investors in connection with concerts and other events.
Reed, who does business under the name Gabe Reed Productions, was arrested by special agents with the Federal Bureau of Investigation on Saturday afternoon in McKinney, Texas. He faces a statutory maximum sentence of 20 years in federal prison for the wire fraud count and a mandatory, consecutive two-year sentence for the aggravated identity theft charge.
Over an 8½-year period, Reed represented himself as a promoter and organizer of hard rock music events, as well as wrestling matches for World Wrestling Entertainment. According to the affidavit in support of the criminal complaint, Reed solicited investors in concert events by touting longstanding relationships with well-known musicians, showing props from alleged previous tours, and, in some instances, creating fabricated financial records related to music events.
The complaint alleges that Reed falsely told investors that musical artists had agreed to participate in events and that their funds would be used to provide up-front financing for the events. However, in many instances, the musical artists had not agreed to participate and, rather than using the funds for the events, Reed allegedly used the investors’ funds for personal expenses.
One Los Angeles investor agreed to put $100,000 into a concert tour Reed was calling “Titans of Rock.” However, many of the promised artists had not agreed to participate in the tour. An FBI review of bank records showed the victim’s money was used to pay for Reed’s personal expenses, including child support, costs related to a birthday, and meals at Ruth’s Chris Steakhouse and Mr. Chow in Beverly Hills.
The complaint alleges that Reed solicited money from at least 15 victims who suffered losses of at least $1.4 million. Reed made his initial court appearance this morning in United States District Court in Sherman, Texas. He remains in custody until a detention hearing set for Friday in Texas.
Investors who provided money to Reed and believe they were defrauded should contact the FBI’s Los Angeles Field Office at (310) 477-6565.
Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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