New Orleans Saints star quarterback Drew Brees is one of the most recognizable faces in the NFL. Brees has put forth a first-ballot Hall of Fame career while establishing himself as one of the greatest players to play the game. However, even he wasn’t susceptible to off-the-field issues like many of his peers dealt with over the years. Brees was involved in a public case involving the value of diamonds that they believed they had been misinformed about from a jeweler. All of that led to the lawsuit eventually earning them $6.1 million.
Drew Brees and his wife file $9 million
Brees and his wife Brittany reportedly had been repeatedly sold numerous colored diamonds as an investment from Vihad Moradi of CJ Charles Jewelers in the time frame from 2012 to 2016.
That led to 2017, where the star quarterback had the diamonds appraised and was told the value of the items had been over-estimated with the price sold to him being between 40 to a few hundred percent higher. It included a diamond ring that Moradi sold to them for $1.6 million, which he had purchased for $565,000 at an auction. That didn’t take long for Brees and wife to take legal action against the jeweler in the hope of recouping the money lost in the purchases.
In April 2018, they sued Moradi for $9 million for the appraisal value difference in damages as they paid rough $15 million for diamonds valued at $6 million. The following month, Moradi reportedly stated that the lawsuit came about due to what he deemed as buyer’s remorse from the Brees’ and a need for quick cash.
He also voiced that the NFL’s all-time passing yards leader told that he and his family were “cash poor” to which the star quarterback disputed those allegations.
Drew Brees and his wife awarded $6.1 million
The legal process for the case took around a year as the case went through the court system before a decision was made.
The entire trial saw Moradi pose the argument that he had to right to resale the jewelry at a higher price while voicing that he didn’t believe the increased cost wasn’t extreme. However, the court wound up ruling in Breeses’ favor as they believed that it was a breach of contract, breach of fiduciary duty, and two counts of fraud.
What stood out was that the jeweler had gone far beyond the selling of diamonds as Moradi had directed Brees on which items to purchase and took on more of an advisor role in the situation. That presented an entirely different set of circumstances as there was a trust built in the matter where the Brees’ were guided toward what would be the best investment for them.
Although the Super Bowl-winning quarterback and his wife didn’t receive the total $9 million they were seeking in the lawsuit, but wound up later being increased to more than $10 million due to Brees’ legal fees and costs, and interest on the judgement.
A learning situation for Drew Brees and his wife
It was a sticky situation that saw the Breeses go through an extended legal matter to regain the money they had lost.
There was a healthy level of trust from them in a jeweler that wound up misguiding them and cost them millions of dollars. In response to the case, Moradi filed an appeal to the decision, which last December resulted in a confidential settlement between both sides that finally ended the lengthy legal battle.
Brees and his wife had to endure a tough situation that should provide a strong teaching lesson for where they place their trust moving forward in any similar matters.