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.”