Drew Brees Sues Former Teammate Over Bogus Investment
Drew Brees filed a lawsuit in federal court on Monday against former teammate Kevin Houser.
According to USA Today the suit was filed on Brees’ behalf, and alleges that Houser advised Brees to invest $160,000 into tax credits from a defunct movie studio, which turned out to be bogus.
Other Saints players and personnel invested into Houser’s scheme, totaling to about $2 million. Brees’ lawyer has attempted to negotiate out of court, but once negotiations couldn’t be reached there was no choice but to proceed in a lawsuit.
On the same day Saints former tight end Jeremy Shockey and former Saints defensive coordinator Greg Gibbs reached agreements in their cases vs Houser. Saints head coach Sean Payton settled his case back in May, while defensive end Charles Grant has a pending lawsuit.
Wayne Read, the operator of the defunct film studio which was supposed to obtain the tax credits was sentenced to 4 years jail time after pleading guilty to fraud charges. Houser however, is not facing any charges.