New Orleans Saints quarterback Drew Brees released a statement Wednesday through his lawyer, Andrew F. Kim, confirming he and his wife, Brittany, filed a lawsuit against San Diego jeweler Vahid Moradi.
"In an effort to diversify our investment portfolio, we trusted Moradi and invested," Brees said, according to the Times-Picayune's Christopher Dabe. "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."
According to the suit, which was filed Monday, Brees is seeking more than $9 million in damages "after an independent appraiser valued eight items purchased between 2012 and 2016 to be $9 million less than what Brees and his wife, Brittany, paid," per Dabe.
TMZ Sports first reported Brees had taken legal action against Moradi.
Eric M. George, the attorney for Moradi, later issued a statement asserting his client did nothing wrong.
"Drew Brees aggressively purchased multi-million dollar pieces of jewelry," George said, per TMZ. "Years later, claiming to suffer 'cash-flow problems,' he tried to bully my client into undoing the transactions.
"Mr. Brees' 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."
Brees, 39, has earned $194.7 million over his career and recently re-signed with the Saints on a two-year, $50 million deal that includes $27 million guaranteed.