Fake Concert Promoter Charged with Million Dollar Fraud

A man who claimed to be a concert promoter for artists like Beyonce, Nicki Minaj, and others has been charged with fraud, announced U.S. Attorney for the Northern District of Texas Leigha Simonton.

Carlos Desean Goodspeed, 43, who operated under the assumed business name, "Straight Like That Entertainment," was indicted on April 16 on three counts of wire fraud. He was arrested without incident at Dallas Fort Worth International Airport on Wednesday, and made his initial appearance before U.S. Magistrate Judge Renée H. Toliver on Thursday.

According to the indictment, Mr. Goodspeed allegedly told investors he was a concert promoter working in partnership with a multinational event marketing company. He allegedly solicited hefty investments and guaranteed returns as high as 50% in a short period of time.

For example, in July 2018, he allegedly solicited $400,000 from one victim, promising to pay him back $650,000 ($250,000 in profit) within four months. He claimed the money would be used to promote touring shows for artists Nicki Minaj and Future.

The same day the would-be investor wired Straight Like That Entertainment the money, Mr. Goodspeed allegedly withdrew $200,000 to pay a court-appointed receiver in connection with an SEC lawsuit; wired $20,000 to another duped investor; and withdrew $100,000 in cash and cashier's checks. He paid back only a fraction of the investor's $400,000 investment.

In January 2022, Mr. Goodspeed allegedly solicited $50,000 from another investor, telling the investor 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, Mr. Goodspeed did not return the principal or pay out the return as promised, allegedly making excuse after excuse. He eventually told the investor he would be paid in full after two additional concerts, including a second concert by Tyler, the Creator and another by Ludacris. The investor wired an additional $130,000 to Straight Like That Entertainment, which Mr. Goodspeed allegedly used for personal expenses, including rental payments at an upscale apartment complex, a purchase at a high-end retail store, and airline fees and hotels; and to make lulling payments to other duped investors.

In total, as a result of Mr. Goodspeed's alleged fraud, investors collectively suffered a loss of over one million dollars.

An indictment is merely an allegation of criminal conduct, not evidence. Mr. 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).

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