DREW BREES $7 MILLION Dollar Diamond BOMBSHELL LAWSUIT
DREW BREESfiles a $7 MIL BOMBSHELL Lawsuit
A lawsuit by famed New Orleans Saints quarterback Drew Brees and his wife, Brittany, against a La Jolla jeweler they say lied about the value of diamonds, defrauding them out of millions of dollars, is moving forward to trial, a judge ruled this week.
The lawsuit, filed in April 2018 in San Diego Superior Court, accuses jeweler Vahid Moradi and his companies, CJ Charles Jewelers and Vahid Moradi Inc., of recommending and selling the Breeses about $15 million worth of investment-grade diamonds which the Breeses learned in 2017 were worth about $8 million.
The original complaint calculated the diamonds' actual value at about $6 million, but the number was updated to $8 million last year to include a ring that had been omitted from the original complaint by mistake, according to court records plaintiff's filed in April.
The couple learned of the discrepancy in value in 2017, the suit said, after they hired an independent appraiser to determine the stones' market value ahead for an annual review of the couple's finances, according to court records. Drew Brees, who played for the San Diego Chargers from 2001 to 2005, then confronted Moradi about the discrepancy.
Moradi, through his lawyers, has vigorously denied the allegations. He has said in court records that the diamonds were intended as a long-term investment, and he had charged Brees the retail price at which he expected they could be resold in 15 to 20 years.
A Houston-based jeweler, Aldo Dinelli, who appraised the stones for Brees, and by that jeweler's business partner in New York and a financial adviser who did work for Brees.
Reached by phone this week, Dinelli, 30 year veteran in the trade, declined to comment and referred the Union-Tribune's questions to Brees' lawyers. Dinelli's partner in New York, Jack Solow, did not respond to a request for comment.
According to a court filing by Moradi, Drew and Brittany Brees "filed this action because a jeweler in Houston, Texas (Aldo Dinelli) told Brees that the diamonds Brees purchased from CJ Charles are collectively worth nine million dollars less than the amounts paid by Brees.
Aldo Dinelli is founder of ICON Jewels, a Houston based private jewelry house. His past and present clients : George H. W. Bush, 41st President of the United States, celebrity client, Paula Abdul, Hollywood Personality Kevin Lee, NFL Players Kenny Vaccaro, Matt Schaub, and Heavyweight Champion George Foreman.
Brees has alleged in court records that some of the diamonds, such as a pair of pink diamond earrings, were sold to him in settings that had been painted, so the diamond's color appeared deeper and, thus, the diamonds appeared more valuable.
Moradi indicated during depositions that such "puffery" is common in the retail jewel business, according to court records. It was not clear in court filings whether Moradi had seen all the diamonds he sold to Brees outside of their settings.
The lawsuit is scheduled for trial May 31, court records showed.
A lawsuit by famed New Orleans Saints quarterback Drew Brees and his wife, Brittany, against a La Jolla jeweler they say lied about the value of diamonds, defrauding them out of millions of dollars, is moving forward to trial, a judge ruled this week.
The lawsuit, filed in April 2018 in San Diego Superior Court, accuses jeweler Vahid Moradi and his companies, CJ Charles Jewelers and Vahid Moradi Inc., of recommending and selling the Breeses about $15 million worth of investment-grade diamonds which the Breeses learned in 2017 were worth about $8 million.
The original complaint calculated the diamonds' actual value at about $6 million, but the number was updated to $8 million last year to include a ring that had been omitted from the original complaint by mistake, according to court records plaintiff's filed in April.
The couple learned of the discrepancy in value in 2017, the suit said, after they hired an independent appraiser to determine the stones' market value ahead for an annual review of the couple's finances, according to court records. Drew Brees, who played for the San Diego Chargers from 2001 to 2005, then confronted Moradi about the discrepancy.
Moradi, through his lawyers, has vigorously denied the allegations. He has said in court records that the diamonds were intended as a long-term investment, and he had charged Brees the retail price at which he expected they could be resold in 15 to 20 years.
A Houston-based jeweler, Aldo Dinelli, who appraised the stones for Brees, and by that jeweler's business partner in New York and a financial adviser who did work for Brees.
Reached by phone this week, Dinelli, 30 year veteran in the trade, declined to comment and referred the Union-Tribune's questions to Brees' lawyers. Dinelli's partner in New York, Jack Solow, did not respond to a request for comment.
According to a court filing by Moradi, Drew and Brittany Brees "filed this action because a jeweler in Houston, Texas (Aldo Dinelli) told Brees that the diamonds Brees purchased from CJ Charles are collectively worth nine million dollars less than the amounts paid by Brees.
Aldo Dinelli is founder of ICON Jewels, a Houston based private jewelry house. His past and present clients : George H. W. Bush, 41st President of the United States, celebrity client, Paula Abdul, Hollywood Personality Kevin Lee, NFL Players Kenny Vaccaro, Matt Schaub, and Heavyweight Champion George Foreman.
Brees has alleged in court records that some of the diamonds, such as a pair of pink diamond earrings, were sold to him in settings that had been painted, so the diamond's color appeared deeper and, thus, the diamonds appeared more valuable.
Moradi indicated during depositions that such "puffery" is common in the retail jewel business, according to court records. It was not clear in court filings whether Moradi had seen all the diamonds he sold to Brees outside of their settings.
The lawsuit is scheduled for trial May 31, court records showed.
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