Drew Brees says San Diego jeweler pulled “a scam” on him

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Drew Brees said a San Diego jeweler pulled “a scam” by selling him millions in jewelry that appraised for $9 million less than he paid for it.

Brees filed suit against Vahid Moradi of CJ Charles Jewelry in San Diego. The Saints quarterback released a statement to TMZ through his attorney, Andrew Kim.

“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, via TMZ. “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.

“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.”

Moradi denies wrongdoing through his lawyer, who told TMZ, “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.”

51 responses to “Drew Brees says San Diego jeweler pulled “a scam” on him

  1. Drew I have some land I’d like to sell you. It should appreciate in value any day now I assure you…

  2. Diamonds rarely appreciate in value. Especially with the ability to create man-made synthetic diamonds.

    Unfortunately diamonds are more common than we think and the prices are artificially inflated to keep prices high.

    It happens everyday, someone goes to sell their wedding ring or a family heirloom and they find out it’s barely worth half of what they paid (if they’re lucky).

    Too bad someone didn’t get to Drew and let him know.

  3. Brees involved in shady financial dealings? I don’t know about that, but let me tell you what I do know about this wonderful product called Advocare.

  4. So if a business sets their own prices (which as far as I know they’re allowed to do no matter how ridiculous the prices may be) and you’re not smart enough to maybe do some research before spending MILLIONS of dollars. Isn’t that on you? Just because Brees has buyers remorse he gets to sue over it?

    Does this mean I bring a lawsuit against the buy here pay here lot that sold me a used KIA for twice the value of a used KIA? My credit was bad at the time and I needed a car but I feel like the dealership took advantage of me.

  5. Why in gods name did he not have them appraised at the time of purchase by HIS OWN appraiser ?? That said, Who really needs a 4 million dollar blue diamond ??

  6. Brees makes almost 30million a year and feels he needs to invest in diamonds??? wtf?? We need an explanation Drew!!!

  7. A little old for bling brees. Living proof that smarts don’t have anything to do with playing qb

  8. Sorry, but it is very hard to have sympathy for anyone that sends millions on diamonds, whether its purportedly for investment or otherwise.

  9. Now he knows how fans felt when they thought they had bought game worn jerseys by Eli Manning.
    ===================================================
    That was Phillip Rivers not Drew Brees.

  10. He needs the $ to pay Pete Morelli. Your team cheated its way to the Super Bowl so know you know the feeling.

  11. A little old for bling brees. Living proof that smarts don’t have anything to do with playing qb
    ==============================================
    Brees is one of the smartest to ever play the game and will own just about every Top 5 QB record when all is said and done. Brees gets that last laugh

  12. Wonder if he realizes diamonds are no where near as rare as they are made to seem. Interesting fact, one company world wide controls 80% of the diamond market. They drop the supply to keep prices inflated. If you are going to invest in an commodity like this do it with gold. By the 2030’s the last of the earths’ gold will be mined dry. Think it’s expensive now? Wait till there is no more being mined

  13. Sounds like Drew and his do-nothing wife didn’t do their due diligence and make a crappy investment to me.

    Go back to pretending to be the “every man” with your Wranglers, Drew.

    No one feels sorry for you and you don’t care about the others that made the same poor investment that you did, either.

  14. It’s amazing how dumb pro athletes are. You could pay them billions a year and they’d still a find a way to make stupid decisions with it and end up losing a lot of it.

  15. Drew, being the humble Christian man that he is, decided it was adequate to purchase a diamond for his wife @ $8.18M. Later on finds out that it isn’t worth half of that.

    Oh, the irony…

    #_________BeHumble

  16. It’s the Saints who got scammed. Paying this guy 20+million over the last 8 years and getting 4 playoff appearances and only 3 wins. That’s Sanchez/Dalton type results.

  17. That sounds like a scam. What ever happened to investing in property or a fast food chain?

  18. Guess who was passed through school because of his athletic ability?
    I know kids in high school that wouldn’t fall for that ruse. smdh

  19. “he would use his connections and expertise to acquire them on our behalf at or below market value” –

    Quite the “Insider” this guy is. He has connections that allow him to buy At Market Price!!!

  20. Hilarious! Happens all the time to greedy people who think they are going to make a windfall on a “hot tip” investment. Looks good on him and I never feel bad when greedy people get bit in the butt being greedy.

  21. Appraised for $9 million less than he paid? Had to read that a couple of times. People can invest their money any way they want, but as others have said, diamonds aren’t a good choice. Brees is considered a bright guy. Surprised he doesn’t have a good financial adviser.

  22. No one forced him to buy the diamonds. As mentioned Diamonds rarely appreciate and for anyone that has tried to sell a diamond you find out its worth nothing compared to what you pay for it. It was an investment that turn d bad. Pure and safe mole. No one , including the person he purchased the diamond from is ever going to give him its full price/value

  23. So Drew was looking for a hustle and ended up getting hustled. If Moradi told you he could get them at or below market value what do you think he was really paying for the diamonds. 9 mill less then appraisal is a complete disaster. I’m sure your agent can recoup some of that money back in endorsements.

  24. . If Drew has a written contract detailing the agent/broker’s responsibilities, he may be on solid ground. But if not … well, you can understand, it was only for multiple millions of dollars.

  25. These ball players really struggle with money. It’s no wonder that up to 70%+ of them declare bankruptcy up to 10 years after their playing careers are over. They need to learn how to manage their money better, not trust people offering too good to pass up business deals and not spend their money on frivolous investments that don’t generate any cash flow.

  26. I have a wedding ring for sale that I’m only going to get less than half what the store sells it for. Maybe he can buy it?!?!?

  27. Brees’ net worth stands at 80M… I doubt he’s basing this on anything other than principle

  28. Saints fan here and a diamond retailer for years! The rocks are valued at what the consumer is willing to pay for them. Diamonds are a poor asset for appreciation in terms of an investment. Gold is the safer bet. With that said, Drew should have brought his own appraiser in for this type of coin, BEFORE he finalized the purchase(s).

    In court, Drew does not have a case. Surely, I feel bad for him but he skipped steps and trust does not provide recourse for him to claim he was scammed.

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