WEST HOLLYWOOD—A concert promoter who has operations in Dallas, Texas, and West Hollywood, CA investors by convincing them he had booked well-known musicians for his concerts is expected to plead guilty to a felony charge this week.
Gabriel “Gabe” Reed did business under the company Gabe Reed Productions and identified himself as an organizer and promoter of several hard rock concerts, as well as a few wrestling matches for World Wrestling Entertainment. Reed scammed investors by 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.
He stole around $1.4 million from 15 different investors over the course of 8 1/2 years. In one instance, representing himself as a concert promoter, he convinced one Los Angeles investor to give him $100,000 for a concert called “Titans of Rock.” Most of the musicians he reached out to did not agreed to perform at the concert.
FBI officials tracked the stolen money which were used for personal expenses including child support, costs related to a birthday, and meals at Ruth’s Chris Steakhouse and Mr. Chow in Beverly Hills, according to the affidavit. Over the course of several months in 2015, the $100,000 “had been depleted,” due in part to ATM withdrawals, and the FBI was “unable to identify the payment of any expenses related to a concert or tour,” the affidavit states. The FBI also found that he had allegedly used another promoter’s name in relation to the wire fraud.
He was charged in May 2017 with wire fraud and aggravated identity theft, and could face up to 20 years in prison. He entered a guilty plea deal, but his sentence is expected to be shorter. As part of the plea deal, Reed has agreed to provide full restitution to all his victims. A court date has been set for November 20. Investors who provided money to Reed and believe they were defrauded should contact the FBI’s Los Angeles Field Office at (310) 477-6565. The case against Reed is being investigated by the FBI and is being prosecuted by Assistant United States Attorney Poonam Kumar of the Major Frauds Section.