clock menu more-arrow no yes

Filed under:

Drew Brees sues former teammate over fake investment

Drew Brees is the latest member of the Saints organization to sue former long snapper Kevin Houser.

Christian Petersen

Drew Brees filed a lawsuit in federal court against former teammate Kevin Houser on Monday, stemming from an investment Brees made that turned out to be fake. The suit, filed on behalf of Brees, is one of several against Houser by current and former members of the New Orleans Saints.

Houser advised Brees to invest $160,000 in tax credits which turned out to be nonexistent, according to a report from Sports Illustrated. Several Saints players -- as well as other members of the organization -- also invested after being advised by Houser, totaling the investment to roughly $2 million. Brees' lawyer said he attempted to negotiate a settlement out of court, but was forced to file the lawsuit when the dispute couldn't be resolved.

Brees' lawsuit came on the same day former Saints tight end Jeremy Shockey and former Saints defensive coordinator Gary Gibbs reached settlements with Houser. New Orleans head coach Sean Payton reached a settlement in May, while defensive end Charles Grant has a lawsuit pending.

Wayne Read, the operator of the film studio which was supposed to obtain the tax credits, was sentenced to four years in prison after pleading guilty to fraud charges. Houser did not face any criminal charges.

More from SB Nation:

This is real life: Patriots sign Tim Tebow

NFL Debrief: Chicago, Oakland can't escape the past

Chad Johnson gets jail time after slapping attorney's behind

Bears, Bucs complete trade | Can Adrian Peterson get 2,000?

#Panquake: The pancake-eating marathon for charity