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Posted: Wednesday, 17 March 2010 10:20AM

Saints coach Sean Payton suing former player over failed studio



New Orleans Saints head coach Sean Payton and his wife are suing the team's former long snapper, Kevin Houser, over a $144,000 investment tied to a now-defunct movie studio.

The federal suit is similar to one filed earlier by Saints tight end Jeremy Shockey and former defensive lineman Charles Grant against Houser, now with the Seattle Seahawks.

State officials say Wayne Read, the CEO of the bankrupt Louisiana Film Studios LLC, never applied for the credits and the money was never returned to investors.

The Paytons' suit, which does not name Read as a defendant, says the couple paid Houser, a licensed securities dealer, $144,000 in late 2008 for what they thought would be $180,000 in state tax credits.

Houser's attorney, Jimmy Castex, stood by previous statements that the Housers - who paid $125,000 for tax credits themselves and are owed for the construction work - "are victims of Wayne Read, just like Grant and Shockey."

The suit also alleges Houser kept an unspecified commission or finder's fee for the purchases.

In addition to asking for triple damages under Louisiana's unfair trade practices law, the suit before U.S. District Judge Ginger Berrigan seeks class-action status for anyone who paid for the tax credits through Houser and The suit said that could be as many as 100 buyers.

No working telephone number is listed for Read, who is not named in the suit.

The dispute became public last July after Houser was cut from the team. He played the 2009 season with the Seattle Seahawks. Saints Coach Sean Payton - who court documents say paid $144,000 for the tax credits - has maintained that the departure of the long-time Saints veteran was not related to sale of the investments.

Other buyers included Super Bowl XLIV Most Valuable Player Drew Brees and former Saints star Archie Manning, according to court records.



   

  10:16am CDT, 09/02/10
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