Drew Brees wins $6.1 million in damages over diamond fraud


A jury in San Diego awarded Drew Brees more than $6.1 million in damages Friday after the Saints quarterback alleged he was overcharged for diamonds purchased as an investment, Ramon Antonio Vargas of the New Orleans Advocate reports.

Jeweler Vahid Moradi and his attorney, Kevin Rooney, said in a statement they “passionately disagree” with the verdict and will appeal.

Whether Brees ever sees any money or not, his victory in court Friday perhaps served as vindication.

Brees and his wife, Brittany, sought $6.7 million, which was the difference between the amount paid to Moradi for a variety of diamonds and the appraised value of the items. Brees accused Moradi of breach of oral contract, fraud by intentional misrepresentation, breach of fiduciary duty and fraud by concealment.

Moradi’s defense contended it was the appraiser – Aldo Dinelli – who scammed the couple, according to the Advocate. Moradi’s attorney argued that the jeweler sold the diamonds to Brees at a retail markup of between 1.55 and 1.6 percent, with diamonds typically selling at a profit of 1.6 percent.

Brees testified in court June 6, the day the trial began. Closing arguments were Wednesday, and the jury deliberated Thursday and most of Friday before deciding in favor of Brees, who was not present in court when the verdict was read.

48 responses to “Drew Brees wins $6.1 million in damages over diamond fraud

  1. As Yogi Berra might have said “If you are going to buy something that’s very expensive make sure that you get at least 5..2nd opinions”

  2. “passionately disagree” reminds me of “strenuously object” from A Few Good Men

  3. Refreshing to know that Brees apparently got justice. Sad to know that even a guy seen as smart & privileged got burned like he did. He lost over 10x what Levon Bell claims he had stolen.

    He won’t ever see that money, but I wonder if he’ll be looked at as stupid?

  4. When you have so much money you can invest your chump change in diamonds. Which are probably the last thing any competent financial advisor would put you in…

  5. Due Dil?
    Have a competent financial advisor?
    Never thought Brees would be into bling, to pharaphrase someone else.

  6. Excellent news!
    When someone rips you off you have the right to a fair hearing. Wealthy people are targets for the most unscrupulous schemes

  7. “Whether Brees ever sees any money or not, his victory in court Friday perhaps served as vindication.”

    Maybe to the lawyer he paid. If Brees doesn’t see any money, he lost.

  8. I’m guessing this story is not accurately reporting the markup on the diamonds. The story suggests a markup of 1.5%, which would be $50,000 on a million dollar diamond. Traditional diamond merchant markup is 1.5x, or 50%, which would be $500,000 on a million dollar diamond.

  9. A DA selling rocks(we’ll call him DA #1) walks into a bar ad runs into DA that buys the rocks(we’ll call him DA #2) and then DA #2 turns around and sues DA #1 because he thinks he got charged too much for his rocks, did I miss anything?

  10. So Brees make an extremely speculative investment, doesn’t due his due diligence by making SURE what the diamonds are worth and gets bailed out by the court? I have some internet stocks from the 90’s I need to whine about. They told be they were worth a bunch. I just took their word for it…

  11. From what I read of the case it was indeed fraud. You can do lots of things but you can’t misrepresent the value of something in particular in regards to investments.

    I think the reason he didn’t get the 2nd opinion is that as it was said he trusted and thought this was a friend who wouldn’t lie to him about the value.

  12. So if I put my empty beer bottle on ebay for half a million dollars and someone buys it, will I be sued? Successfully? I say bfl to the fool who buys it

  13. I don’t how he won? Take any retail diamonds you purchased fo appraiser (a wedding ring for instance) and it all comes in at a lower value. Diamonds are not as rare as people think they are. Most smart people know diamonds are a poor investment and the diamond market is manipulated and controlled by a few people. Brees will now go “Untuck It” after the lousy over priced shirt company he invested a bundle in. Rich people seldom pay fo their mistakes.

  14. Should have had it independently appraised before you bought it. I’m sick and tired of the government bailing people out from their own bad decisions

  15. Drew immediately took the $6 million and bought 6 million “100 Grand” candy bars in yet another brilliant investment strategy.

  16. So, how much did he spend on them? 12 million? That’s such a strange investment. Wouldn’t be the first guy to lose 6 million on something, though.

  17. I don’t understand why he didn’t just turn around and sell all that bling to Le’Veon Bell. He would have made all his money back, plus a tidy profit.

  18. Certainly agree Brees needed to be more careful. However, to me, the best part of the verdict is that defendant was convicted of fraud. That is a win for anyone who might have pondered doing business with him. (them?)

  19. patsfan4lifesbchamps says:
    June 21, 2019 at 9:25 pm
    How many jurors were Saints fans?


    I would say at least about three fewer than the number of “Refs” who were Rams fans at the NFC Championship.

  20. I always bring a diamond expert with me when I buy millions of dollars worth of diamonds.

  21. It’s too bad so many pro athletes get caught up in one scam or another – or simply blow their huge salaries on extravagant things.

    Good financial advice isn’t that difficult to find.

  22. Drew was referred to Moradi by the well known financial genius, Terrell Owens.

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