Drew Brees gives details on how he was allegedly scammed out of $9 million
The Saints quarterback isn't a happy camper after losing millions of dollars in an alleged scam
It's not easy to get scammed out of $9 million, but that's apparently what happened to Drew Brees.
The Saints quarterback with a jeweler in San Diego. According to a lawsuit filed this week by Brees, Vahid Moradi of CJ Charles Jewelers overcharged the Saints quarterback for multiple pieces of jewelry over a six-year period. Brees realized what was going on when he had his $15 million jewelry collection appraised and found out that it was worth roughly $9 million less than what Moradi had sold it to him for.
Brees and his wife Brittany claim that Moradi took advantage of them and that he knew all along that he was overcharging them for the jewelry. In a statement to TMZ, Brees explained how he got into business with Moradi.
"From 2010 to 2016, Moradi advised [my wife and I] to allocate funds into an alternative asset class of investment grade diamonds and told us that he would use his connections and expertise to acquire them on our behalf at or below market value," Brees said. "In an effort to diversify our investment portfolio, we trusted Moradi and invested. Moradi assured us he was being compensated by the sellers for any investment grade diamonds he acquired on our behalf."
After working with Moradi for six years, Brees said he came to the conclusion that the whole thing was a con to scam Brees and his wife out of millions of dollars.
"In the end it was all a scam. After thinking long and hard, Brittany and I decided to take this lawsuit on in part because we fear we are not the only ones Moradi has misled and defrauded."
In one instance, Brees said he spent $8.1 million on on a blue diamond that turned out to only be worth $3.75 million after he had it independently appraised. Moradi's lawyer, Eric M. George, claims that Brees decided to start bullying his clent because he was having some financial problems.
"Drew Brees aggressively purchased multi-million dollar pieces of jewelry. Years later, claiming to suffer 'cash flow problems,' he tried to bully my client into undoing the transactions," George said told TMZ this week. "Mr. Brees's behavior and his belief that he was wronged because the jewelry did not appreciate in value as quickly as he hoped both demonstrate a lack of integrity and contradict basic principles of both economics and the law."
Brees is seeking damages of at least $9 million.
The Saints quarterback has pulled in roughly $194 million during his 17 NFL seasons. Brees will cross the $200 million earning mark in 2018, because he recently signed a two-year $50 million deal with the Saints that includes $27 million in guaranteed money.
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