Skip to main content

Here's How Drew Brees Claims He Lost $9 Million Dollars

Drew Brees on the sidelines.

MINNEAPOLIS, MN - JANUARY 14: Quarterback Drew Brees #9 of the New Orleans Saints sits on the bench during the NFC divisional round playoff game against the Minnesota Vikings at U.S. Bank Stadium on January 14, 2018 in Minneapolis, Minnesota. (Photo by Jamie Squire/Getty Images)

Drew Brees might be a Super Bowl-winning signal caller, but he's apparently not much of an investor.

According to TMZ, Brees has filed a lawsuit against a San Diego based jeweler whom he claims sold him overpriced jewelry. Brees claims he bought a total of $15 million worth of jewelry from Vahid Moradi of CJ Charles jewelers that is now valued at $6 million. Furthermore, Brees is claiming Moradi advised him to buy the diamonds in order to diversify his portfolio. He is seeking damages of at least $9 million.

One of the biggest losses was a 4.09 carat blue diamond Brees says purchased in 2015 for almost $8.2 million which was recently estimated to be worth $3.75 million.

Brees told TMZ in a statement that it was all a scam:

"From 2010-2016, 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.

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."

Meanwhile, an attorney for the jeweler says his client is innocent of any wrongdoing and had no way knowing the jewels would depreciate in value as much as they did.

More from TMZ:

"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."

"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."

"He should restrict his game-playing to the football field, and refrain from bullying honest, hard-working businessmen like my client."

In a career that spans 17 NFL seasons, Brees is set to cross an earnings threshold of $200 million in 2018 after he signed a two-year deal worth $50 million deal in March which includes $27 million in guaranteed money.