Promoter Gabe Reed To Plead Guilty To Wire Fraud

Gabe Reed, who operated under Dallas-based Gabe Reed Productions, has agreed to plea guilty to a federal wire fraud charge in which he conned concert investors out of hundreds of thousands of dollars.  

– Gabe Reed

“I am pleading guilty because I am guilty of the charge and wish to take advantage of the promises set forth in this agreement and not for any other reason,” Reed reportedly wrote in a signed response. 

According to the plea agreement obtained by Pollstar, from 2008 to 2017, Reed defrauded investors out of money that was to be used on concerts by artists that ultimately weren’t booked and shows that didn’t happen or were designed to later be canceled.

Instead, Reed “used the victims’ funds to pay his personal expenses, including payment of his rent, utility bills, and travel expenses, which he failed to disclose to the victims,” the plea agreement states.

Reed acted as a promoter and organizer of concerts as well as WWE wrestling for more than eight years, according to a release from the U.S. Department of Justice.

Pollstar has about 10 box office reports with Gabe Reed Productions as promoter or co-promoter, all in South America, including a KISS show from 2009 in Chile, four Motley Crue shows in 2011 (Brazil, Argentina, Chile) and four Vince Neil shows from 2010. The company is also listed as producing “Metal All Stars” and “Rock N Roll All Stars” tours.

In the plea agreement dated Sept. 26, four remaining wire fraud counts against Reed are dismissed and he is recommended a reduction in the applicable sentencing guidelines. A prison term would be on the low end of the applicable sentencing guidelines.

The maximum sentence for the charge is 20 years imprisoned with a three-year period of supervised release, as well as a fine of $250,000 “or twice the gross gain or gross loss resulting from the offense, whichever is greatest.” 

The agreement says Reed used “sophisticated means” to defraud his victims, including creating false email addresses in the name of other people and entities. The plea agreement names one Los Angeles investor who agreed in 2015 to put $100,000 into a “Titans of Rock” tour Reed was pitching, only to find that many of the promised artists had not agreed to participate.

The case against Reed was filed in U.S District Court in Los Angeles April 19 and unsealed at his first court appearance May 3.

An affidavit filed in support of the criminal complaint alleges Reed solicited investors in concerts by dropping names and boasting of relationships with famous artists, showing off tour swag and in some cases fabricating financial records related to concerts. His Twitter page, active as of June 2016, shows photos of him rubbing elbows with rock stars like Ace Frehley and apparently attending Ronnie James Dio’s memorial service.

A Pollstar email to Reed had not received a response at press time.