diff --git a/src/racket/src/read.c b/src/racket/src/read.c
index 281448da26..c0d831bc2c 100644
--- a/src/racket/src/read.c
+++ b/src/racket/src/read.c
@@ -5435,10 +5435,9 @@ static Scheme_Object *read_compiled(Scheme_Object *port,
       delay_info->ut->rp = NULL; /* clean up */
 
   if (*local_ht) {
-    result = resolve_references(result, rp->orig_port, NULL,
-                           scheme_make_hash_table(SCHEME_hash_ptr), 
-                           scheme_make_hash_table(SCHEME_hash_ptr), 
-                           0, 0);
+    scheme_read_err(port, NULL, -1, -1, -1, -1, 0, NULL,
+		    "read (compiled): ill-formed code (unexpected graph structure)");
+    return NULL;
   }
 
   if (SAME_TYPE(SCHEME_TYPE(result), scheme_compilation_top_type)) {