A multi-city Hip-Hop tour scam involving big names like Nicki Minaj and Future has led to the arrest of a Dallas man who defrauded investors out of millions of dollars for his own personal use.
Nicki Minaj and Future were falsely advertised by headline performers for a multi-city tour that never materialized, leading to Carlos Desean Goodspeed’s indictment on wire fraud in Dallas, Texas.
Goodspeed, 43, claimed to be responsible for organizing a concert tour featuring prominent artists such as Nicki Minaj and Future, which prompted investors to pour substantial funds into the venture.
Victims expected lucrative returns from Goodspeed, who promised them through his illegitimate promotions company, “Straight Like That Entertainment.”
He convinced them to invest with the allure of quick financial gains only to divert the money for personal use, such as lavish shopping and premium living expenses.
The financial ramifications of Goodspeed’s alleged deceit were staggering.
His deceitful practices extended to organizing fictitious events featuring other big names in Hip-Hop, including Tyler, the Creator and Ludacris.
After the initial fraudulent event went unchallenged, the deceit deepened with further promises of additional concerts utilizing the credibility of these well-known artists to secure more funds from hopeful investors.
In one instance, he acquired $400,000 from an investor, promising to turn it into $650,000 within four months by financing a concert tour.
However, those funds were diverted towards personal gains, including luxury shopping and upscale living expenses.
Another victim was persuaded to wire an additional $130,000 with the lure of future concerts, only to have those funds also misappropriated.
Collectively, the victims of Goodspeed’s fraudulent scheme faced losses in the millions.
The authorities began investigating after multiple complaints were lodged by the deceived investors, leading to Goodspeed’s arrest at Dallas Fort Worth International Airport.
Despite his appearances and promises made to investors, he was taken into custody, reflecting the gravity of his crimes, encompassing deceit, exploitation, and a stark abuse of trust within the entertainment industry.
Goodspeed’s case is now moving through the legal system with hopes of justice for the defrauded parties and reparative measures to fortify investor protections in the future.
