{"id":69621,"date":"2026-04-05T13:23:08","date_gmt":"2026-04-05T13:23:08","guid":{"rendered":"https:\/\/diyhaven858.wasmer.app\/index.php\/a-texas-man-convinced-investors-to-bet-1-million-on-his-business-he-spent-it-on-a-cushy-apartment-instead\/"},"modified":"2026-04-05T13:23:08","modified_gmt":"2026-04-05T13:23:08","slug":"a-texas-man-convinced-investors-to-bet-1-million-on-his-business-he-spent-it-on-a-cushy-apartment-instead","status":"publish","type":"post","link":"https:\/\/diyhaven858.wasmer.app\/index.php\/a-texas-man-convinced-investors-to-bet-1-million-on-his-business-he-spent-it-on-a-cushy-apartment-instead\/","title":{"rendered":"A Texas man convinced investors to bet $1 million on his business. He spent it on a cushy apartment instead"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div xmlns:default=\"http:\/\/www.w3.org\/2000\/svg\" data-testid=\"article-body\">\n<div class=\"bodyItems-wrapper\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Dallas-based Carlos Desean Goodspeed, 45, presented himself as a concert promoter skilled at flipping hot tickets and luxury suites. Seventeen people bought in through his business Straight Like That Entertainment to the tune of over $1 million.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Instead of buying tickets for artists like Ludacris and then swapping them for a profit, the United States Attorney\u2019s Office in the Northern District of Texas says (1) Goodspeed either used that money for lavish purchases or to pay off earlier investors.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Now, Goodspeed faces 75 months in federal prison and must pay $1.2 million in restitution to the 17 victims.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->At Goodspeed\u2019s sentencing hearing, one of these investors said she had hoped the profits from these concerts would help a family member diagnosed with cancer. When she didn\u2019t get her money, she was forced to use loans and credit cards to pay for her relative\u2019s funeral.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Another victim sent Goodspeed $180,000 in one transaction to invest in tickets and suites for Tyler, the Creator. In court, Goodspeed admitted he took this money and spent it on rent at a plush apartment complex, as well as some high-end goodies and airfare.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->U.S. Attorney Ryan Raybould commented on these types of schemes, saying, \u201cVictims are often defrauded of life savings and suffer devastating economic and personal harm because of investment fraud schemes like this one.\u201d<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->He added that, \u201cSeeking lengthy prison time for defendants and restitution judgments on behalf of those victimized in these cases remain top priorities for my office.\u201d<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->FBI Dallas Special Agent in Charge R. Joseph Rothrock (1) also offered a word of warning to investors, encouraging them to always carefully research opportunities to avoid a similar fate.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Federal data shows that fraudsters like Goodspeed are a growing problem in the U.S. Across all fraud categories, Americans lost a record $12.5 billion in 2024, a 25% increase from the year before, per the Federal Trade Commission (FTC) (2).<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->But investment scams result in the greatest loss that same year \u2014 with 48,000 investment-related scams costing victims $6.6 billion losses biggest category, according to the FBI\u2019s Internet Crime Complaint Center (IC3) showed (2).<!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<p>   <button class=\"secondary-btn fin-size-large readmore-button    rounded   yf-r7dg9i\" data-ylk=\"elm:readmore;itc:1;sec:content-canvas;slk:Story%20Continues\" data-yga=\"{&quot;yLinkElement&quot;:&quot;readmore&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Story Continues&quot;}\" aria-label=\"Story Continues\" title=\"Story Continues\"> <span>Story Continues<\/span> <\/button> <\/p>\n<div class=\"read-more-wrapper\" style=\"display: none\" data-testid=\"read-more\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Although there\u2019s no data tracking the prevalence of concert ticket schemes, the FTC reported over $750 million in losses (3) for fake business and job opportunities in 2024. For perspective, that\u2019s an increase of $250 million versus 2023.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Currently, agencies like the FTC and FBI are most alarmed about the rise of cryptocurrency-related scams. These types of fraud schemes account for $5.8 billion in losses (2) from roughly 41,500 complaints, making them one of the largest and fastest-growing categories.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->But no matter the type of fraud, these schemes often lure people in with similar tactics. If you know the warning flags, it\u2019ll be easier to avoid a trap like Goodspeed\u2019s ticket tactic.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><strong>Read More: 5 essential money moves to make once you\u2019ve saved $50,000<\/strong><!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->The Financial Industry Regulatory Authority (FINRA) published a list (4) of clear warning signs of fraudulent investment schemes, some of which appeared in Goodspeed\u2019s case.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->If an investment opportunity promises guaranteed or suspiciously consistent returns, it\u2019s probably bogus. No matter the investment, there\u2019s always some degree of risk, so promising returns simply isn\u2019t a reality.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->FINRA also warns against working with anyone who sells unregistered products or who doesn\u2019t have an official, verifiable financial license. It shouldn\u2019t be difficult to find credible and third-party verified IDs on businesses through portals like FINRA\u2019s BrokerCheck (5) or the SEC\u2019s Investment Adviser database (6).<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Excessive secrecy or claims of \u201cspecial access\u201d to offerings like concert tickets are another major red flag for investment fraud. Exclusive offerings are juicy bait because they promise big rewards and are harder for investors to verify.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->The FBI says (7) fraudsters often use psychological manipulation to build trust with their victims and ensure investors don\u2019t ask too many questions. Also, if you notice someone being evasive or overly aggressive and pressuring you to \u201cact now,\u201d something\u2019s wrong.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->The minute you suspect an investment fraud, file a complaint on the FBI\u2019s IC3.gov (8) and the SEC\u2019s portal (9) for tips, complaints, and referrals (TCRs). You could also reach out to your state\u2019s securities regulator and local police department with more information.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->While it\u2019s possible to get money back if lawmakers catch a fraudster, not every victim recovers from these schemes.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Whenever you\u2019re thinking about a new investment, be cautious and keep demanding legit information to prevent falling for a fraud.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. <strong>Subscribe now.<\/strong><!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><em>We rely only on vetted sources and credible third-party reporting. For details, see our<\/em> <em>editorial ethics and guidelines<\/em><em>.<\/em><!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->U.S. Department of Justice (1); Congressional Research Service (2); Federal Trade Commission (3); FINRA (4); FINRA BrokerCheck (5); SEC Investment Adviser Public Disclosure (6); FBI (7); IC3.gov (8); SEC (9)<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><em>This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/em><!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p><br \/>\n<br \/><a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dallas-based Carlos Desean Goodspeed, 45, presented himself as a concert promoter skilled at flipping hot tickets and luxury suites. Seventeen people bought in through his business Straight Like That Entertainment to the tune of over $1 million. Instead of buying tickets for artists like Ludacris and then swapping them for a profit, the United States [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":69622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_daextam_enable_autolinks":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[10],"tags":[6485,469,6489,559,6488,6487,6486,496],"class_list":["post-69621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-carlos-desean-goodspeed","tag-dave-ramsey","tag-fbi","tag-federal-trade-commission","tag-fraud-schemes","tag-goodspeed","tag-investment-fraud","tag-investors"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/diyhaven858.wasmer.app\/wp-content\/uploads\/2026\/04\/dfced7469e643d1c9fa7b3c87ae0b847.jpeg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/posts\/69621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/comments?post=69621"}],"version-history":[{"count":0,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/posts\/69621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/media\/69622"}],"wp:attachment":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/media?parent=69621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/categories?post=69621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/tags?post=69621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}