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Thread: Jury awards Drew Brees $6.1 million for investment scam

  1. #1
    Senior Member Array title="AtlantaDan has a reputation beyond repute"> AtlantaDan's Avatar

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    Jury awards Drew Brees $6.1 million for investment scam

    LOL - amazing how even professional athletes not regarded to be morons still repeatedly get caught up in dumb purchases and investment scams

    Jurors in San Diego decided Friday that Drew Brees is owed more than $6.1 million in damages after a jeweler exploited his friendship with the Saints quarterback to sell him extremely overpriced diamonds. ...

    Brees took the witness stand June 6, the first day of testimony at the trial, to say that Moradi and CJ Charles Jewelers sold him and Brittany $15 million worth of diamonds — among them an $8 million ring — between 2012 and 2016...

    Brees described growing so close to Moradi over the course of about 15 years that he completely believed the jeweler when he said the diamonds were investments that would rapidly appreciate in value and would likely weather downturns in the economy such as the 2008 financial collapse.

    However, an appraiser told the Breeses in 2017 that they had paid roughly $7 million more for the collection than it was worth. The appraiser’s opinion was that the $8 million ring was worth roughly half of that.

    https://www.theadvocate.com/new_orle...5ccae3ad8.html

    Always a good idea to maximize your net worth this way rather than do something boring like invest your money in an index fund of equities and bonds - expertise in reading zone defenses obviously qualifies someone to assess the value of a multi-million $$ purchase of jewelry as an "investment"?

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    Senior Member Array title="hawaiiansteeler has a reputation beyond repute"> hawaiiansteeler's Avatar

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    Re: Jury awards Drew Brees $6.1 million for investment scam

    Quote Originally Posted by AtlantaDan View Post
    Always a good idea to maximize your net worth this way rather than do something boring like invest your money in an index fund of equities and bonds - expertise in reading zone defenses obviously qualifies someone to assess the value of a multi-million $$ purchase of jewelry as an "investment"?
    I'm sure Brees owns lots of stocks and bonds and wanted to diversify his portfolio.

    and he got greedy...

  3. #3
    Banned Array title="tom444 has a reputation beyond repute">

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    Re: Jury awards Drew Brees $6.1 million for investment scam

    Now why would anyone think that they might overcharge?

    "Customers are greeted with a grand gated entryway into an exquisite 2,OOO-square-foot CJ Charles salon, which features an elegant slate floor and antique-styled display with 146 cases. "Within our store, there is always a feeling of energy and activity," explains Moradi. "The showcases are kept spotless, and all of our watches are displayed with care." In addition to fine Swiss watches, CJ Charles Jewelers offers many different styles of designer and estate jewelry, Baccarat Crystals, Montblanc writing instruments, Cartier accessories and Underwood watch holders and winders."





    Ha ha, jesus christ.

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