Drew and Brittany Brees sued La Jolla jeweler Vahid Moradi and his store CJ Charles Jewelers in 2018, alleging he defrauded them out of roughly $9 million by selling colored diamonds as appreciating investments at prices far above their actual value. A San Diego jury sided with the Breeses in June 2019 and awarded $6,130,767. A judge later raised the judgment to $10.3 million with fees, costs, and interest. Moradi dropped his appeal in December 2019, and the parties reached a confidential settlement days later.1NBC San Diego. Drew Brees, Wife Settle Fraud Lawsuit Against La Jolla Jeweler
Who Moradi Was to the Brees Family
Brees started buying Panerai watches from Moradi’s La Jolla store in 2003, and the two grew into what Brees described as a close friendship.2Times of San Diego. QB Drew Brees Testifies in La Jolla Suit, Says Jeweler Inflated Diamonds’ Value Around 2008 or 2009, Moradi began pitching colored diamonds to Brees as an alternative asset class capable of appreciating 150 to 200 percent.3Kim Riley Law. Jurors Reach Verdict in Civil Trial Between NFL Star Drew Brees and San Diego Jeweler
Between 2012 and 2016, the Breeses bought about $15 million in what Moradi called “investment-grade” diamonds across eight large transactions.4Forbes. What the $9 Million Lawsuit by Saints Quarterback Drew Brees Could Mean for the Jewelry World The couple said Moradi promised to use his expertise and connections to source stones at or below market value, and told them he was paid by the original sellers rather than through a retail markup on the Breeses.5WDSU. Drew Brees, Wife Suing Jeweler Over Value of Diamonds
The Diamonds and What They Were Actually Worth
The largest single item was a 4.09-carat blue diamond ring the Breeses bought for $8.2 million. An independent appraiser later valued it at about $3.75 million.6WWL-TV. Brees Claims Calif. Jeweler Scammed Him Out of $9 Million A pair of pink diamond earrings purchased in 2015 for $975,000 was appraised at just over $176,000, and the lawsuit alleged the stones had been placed in settings designed to make them look a more intense pink.4Forbes. What the $9 Million Lawsuit by Saints Quarterback Drew Brees Could Mean for the Jewelry World
In 2017, the Breeses hired Houston appraiser Aldo Dinelli to evaluate the entire collection. Dinelli concluded the diamonds were worth roughly $9 million less than what the Breeses had paid.7CBS Sports. Drew Brees Gives Details on How He Was Allegedly Scammed Out of $9 Million
A separate piece of the dispute involved $244,000 the Breeses wired Moradi in July 2016 toward a watch they ultimately decided not to buy. According to the complaint, Moradi agreed to a refund but then pushed to keep the money as store credit, and refused to return the cash when the Breeses demanded it in March 2018.8Courthouse News Service. Drew Brees Complaint
The Claims Filed in 2018
The Breeses filed suit in San Diego County Superior Court in 2018, seeking at least $9 million in damages plus punitive damages. The complaint against Moradi and CJ Charles Jewelers included six causes of action: fraud by intentional misrepresentation, fraud by concealment, breach of fiduciary duty, breach of oral contract, conversion (over the $244,000 watch payment), and violation of California’s unfair competition law, Business and Professions Code Section 17200.9NBC San Diego. Quarterback Drew Brees Sues La Jolla Jeweler for $9 Million
Moradi’s initial attorney, Eric George, publicly rejected the claims, describing Brees as a buyer who had “aggressively purchased multi-million dollar pieces of jewelry” and was now trying to “bully” an “honest, hard-working” businessman because the stones had not appreciated as fast as he hoped.10New York Post. Drew Brees in $9 Million Jewelry Feud
What Happened at Trial
Trial began June 6, 2019, in San Diego and lasted about two weeks, with attorney Peter Ross representing Moradi. Both Breeses testified, and the disputed diamonds were displayed for the jury.11San Diego Union-Tribune. Jurors Award Drew Brees More Than $6M in Jewelry Lawsuit
Brees testified he did not know Moradi was taking a markup at all. He acknowledged the diamonds came with legitimate Gemological Institute of America certificates and that Moradi had not misrepresented their physical characteristics. The fight, in his telling, was over price versus true value. Appraiser Cos Altobelli testified for the Breeses that a reasonable retail markup on items priced above $100,000 runs around 20 to 25 percent, and that Moradi had charged Brees more than double the diamonds’ worth. “If he had charged 10 percent over cost, that would have been reasonable,” Altobelli said.12JCK Online. Appraisers at Drew Brees Trial
Ross argued Moradi was a reputable jeweler who acted in good faith and that the markups were consistent with standard retail practice. Moradi testified he viewed the diamonds as “long-term legacy pieces” for the Brees family rather than short-term financial instruments.11San Diego Union-Tribune. Jurors Award Drew Brees More Than $6M in Jewelry Lawsuit
On June 21, 2019, the jury found for the Breeses on all four counts submitted to it: fraud by intentional misrepresentation, fraud by concealment, breach of fiduciary duty, and breach of oral contract. The award totaled $6,130,767.13CBS Sports. Drew Brees Wins $6 Million Award in Jewelry Fraud Lawsuit
From $6.1 Million to $10.3 Million to Settlement
Moradi signaled an appeal right after the verdict and formally filed it in October 2019.13CBS Sports. Drew Brees Wins $6 Million Award in Jewelry Fraud Lawsuit That fall, a judge added legal fees, costs, and interest to the jury award, raising the total judgment to $10.3 million.1NBC San Diego. Drew Brees, Wife Settle Fraud Lawsuit Against La Jolla Jeweler
Moradi dropped the appeal on December 17, 2019. Two days later, the parties announced an “amicable resolution” on confidential terms and the lawsuit was dismissed.1NBC San Diego. Drew Brees, Wife Settle Fraud Lawsuit Against La Jolla Jeweler