Report: Brees releases statement after filing lawsuit against jeweler
Brees claims Vahid Moradi misrepresented the value of several diamonds he sold the Saints quarterback.
Brees is suing the jeweler for almost $9 million.
Brees issued a statement through his attorney on Wednesday:
"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."
"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 has denied any wrongdoing. His attorney said Brees is upset because the diamonds did not appreciate as quickly as he hoped.
"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," said Moradi's lawyer Eric George.