Drew Brees’ $6.1 million verdict is the beginning, not the end

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Good news, Drew Brees: You’ve won a verdict of $6.1 million against a San Diego jeweler.

Bad news, Drew Brees: The process is just getting started.

Vahid Moradi’s lawyer already has declared that an appeal of the jury verdict is coming. Most civl cases entail various grounds on which a plausible appeal can be based. Whether the appeals courts respond favorably depends on plenty of factors, from prevailing precedent in the state where the action unfolded (in this case, California) to the politics of the judges who will handle the appeals, to the ability of the lawyers to argue persuasively for or against a reduction or scrapping of the verdict.

Then comes the question of whether Moradi even has $6.1 million to give to Brees. If Moradi has the money, he may drag his feet, forcing Brees to jump through a variety of hoops to collect. Of course, prejudgment interest (10 percent in many jurisdictions) creates a strong disincentive to delay payment.

Beyond appeals and payment is the question of whether Brees hired his lawyers on an hourly basis or with a contingency fee. If it’s the latter, Brees could be forking over upwards of $2 million to his attorneys, if Brees gets the full amount of the verdict. If it’s the former, the final bill will be significant (maybe $200,000 to $400,000) but not exorbitant.

Regardless, Brees obtained vindication on Friday from a jury that saw him not as a sucker but as someone who was suckered in.

“I think the jury saw Mr. Moradi for what he is, and that’s a con man,” Brees’ lawyer, Andrew Kim, said. “[The jury] did find that he committed fraud both by affirmative misrepresentations and also concealing facts that were within his knowledge but that the Breeses couldn’t know, and that was all part of a scheme to do exactly what Mr. Moradi did, and that was to make an illicit $6 million profit when he wasn’t supposed to make any profit at all.”

That’s a clear win for Brees and his wife. But the process will continue, possibly for many more months, before they even begin to get cash from Moradi.

35 responses to “Drew Brees’ $6.1 million verdict is the beginning, not the end

  1. from a jury that saw him not as a sucker but as someone who was suckered in.

    Sorry, he’s still a sucker to fall for something like this. Just because he has been exposed as a con man doesn’t make Brees less of a sucker.

  2. 1) Gems purely as financial investment are a bad idea (volatile, no set price, not easy to sell).
    2) Never buy a diamond from a guy who says it’s worth over $1.3M but yours for just $900k.
    3) Never take the color of mounted/backeds gem on spec – the way to confirm is unmounted.

  3. “classclown71 says: June 22, 2019 at 11:22 am. Somebody will have to explain this to Drew…”

    Doubtful. He is a Purdue University graduate.

  4. lost me why anyone needs millions in diamonds.
    i guess its lost on you why anyone would need millions of dollars period.
    everything isnt about need its about getting what you paid for.
    if you pay for a craft beer and get a coors someone ripped you off.
    its no different just because hes rich and successful.
    this makes you sound pety and jealous

  5. I guess it’s consoling that the bright side to only having $44 in my account is I don’t have to worry about con-men.

  6. Maybe Brees was planning on selling them to an NFL colleague who just lost some diamonds.

  7. indiapalealeblog says:
    June 22, 2019 at 11:36 am
    If I was worth over $100 million I’d gladly pay $2,000,000 to go after someone who stole from me. B

    _________________________________________________________________

    Right I agree. He probably cares more about the principle, especially if they win and gets at least some restitution. $2m is chump change to him.

  8. myusernameissteve says:
    June 22, 2019 at 1:26 pm
    I’m no financial genius but how are diamonds a sound investment?
    Xxxxxxxxxxxxxxxxxxxxxxxxx

    …..when you find them yourself.

  9. I feel like I just got out of a law school / gem investment class after this aricle and comments. Thank you all.

  10. domedaddy says:
    June 22, 2019 at 11:51 am
    You lost me why anyone needs millions in diamonds.

    Nobody needs a $50 million yacht
    Nobody needs a $30 million Picasso
    Nobody needs a $44 million summer home in the Hamptons. Matt Lauer’s is for sale.
    IT IS NOT NEED. IT IS WANT. They have the money for it. You and I don’t.

  11. Now everyone on this message board is an expert on investments. Brees got scammed, much the same as has probably happened to … everyone on this message board.

  12. Most states require the loser to put up the amount of the judgement in escrow before the appeal is allowed.

  13. I will no longer criticize other players for buying Bentleys. I think the spending habits of a certain group gets publicized more than others and l apologize for stereotyping. I am now informed that the guys held up as pillars of righteousness also spend money on nonsense. But instead of criminals breaking in and stealing and me calling them morons, this guy handed it over and is considered a victim. I’ll call him a moron too.

  14. Well Drew is set for life. But really there would be a lot of reasons for suing. And that he could be not suing for himself or his family. But in others perhaps that felt ripped off.

  15. FRAUD. that’s important because if D tries to file bankruptcy, any tort sounding in fraud cannot be discharged. (California attorney here, but that’s federal law).

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