San Diego

NFL QB Drew Brees Sues Over Value of Colored Diamonds Sold to Him by La Jolla Jeweler

Drew Brees and his wife, Brittany Brees, are suing a jeweler from La Jolla, claiming he misrepresented the value of diamonds and defrauded him out of $6.7 million.

On Monday, Drew Brees testified Monday that diamonds he invested in were shown to him in settings that changed their color.

The civil lawsuit filed in San Diego County Superior Court accuses jeweler Vahid Moradi of breach of oral contract, fraud by intentional misrepresentation, breach of fiduciary duty and fraud by concealment.

Brees testified Monday he never had the opportunity to see the diamonds removed from their settings.

In court, he held the diamonds after they had been removed from the settings.

“They look nowhere near what they look like in the settings,” Brees said.

“They’re much more light, much more faint in fact the blue diamond looks like it could be a white diamond. There appears to be no color to the naked eye.” 

Brees and Moradi met through a teammate when he was in college. 

"Well, Vahid became a good friend. He became somebody I referred family and other friends too. I don't do that lightly," the New Orleans Saints quarterback testified on Thursday. 

The two men entered into 10 transactions since they first started discussing diamonds as investments in 2010. 

NBC 7
A list of the damages involved in the lawsuit between NFL quarterback Drew Brees and a La Jolla jeweler.

The defense argued diamonds are a good investment and explained the difference between wholesale diamonds and retail diamonds to the jury. 

The typical retail profit on a diamond is 1.6 percent of the diamond's value, according to the defense. Using a calculator, the attorney showed how the diamonds sold to Brees had a 1.55 to 1.6 percent markup. 

Moradi's attorney said each diamond that was sold to Brees was accompanied by a certificate from GIA. 

Brittany Brees and Moradi are expected to testify this week.

A civil trial between NFL quarterback Drew Brees and a La Jolla Jeweler is underway. NBC 7's Artie Ojeda has more.
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