Quarterback Drew Brees suing San Diego jeweler for lying about purchases

Quarterback Drew Brees suing San Diego jeweler for lying about purchases
Posted at 4:43 PM, Apr 03, 2018
and last updated 2018-04-04 09:02:40-04

SAN DIEGO (KGTV) - NFL quarterback Drew Brees and his wife say a San Diego jeweler with lying and falsely represented the value of the jewelry sold to them.

Vahid Moradi, founder of CJ Charles Jewelers in La Jolla, is accused of making friends with the Brees and then using his "relationship and position to induce" Brees to rely "on his false representations as to the investment quality and market value" of numerous diamonds, a lawsuit filed in San Diego said.

In the lawsuit, Brees says he has spent multimillions of dollars in business with Moradi, purchasing jewelry as gifts and as investments.

READ the lawsuit here.

"In total, [the Brees] invested approximately $15 million in investment quality diamonds recommended by Moradi," the suit states. "The independent appraiser determined the true market value of the diamonds ... was approximately $9 million less than the prices the [Brees] paid."

Brees also alleges that Moradi "confessed he charged Plaintiffs a substantial markup," in one case charging a 550 percent markup, the suit alleges. Brees also argues that Moradi went so far as to conceal the true quality of the diamonds using "reflective and painted settings." 

Moradi has fought back against the allegation. His attorney issued a statement to 10News saying Brees has only himself to blame.

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"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," Eric George, Moradi's attorney, said. "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."

Brees is suing for at least $9 million in damages and court costs.