On Monday a lawsuit was filed in federal court on behalf of Saints quarterback Drew Brees against former New Orleans long snapper Kevin Houser for allegedly swindling Brees out of $160,000, after Houser advised his former teammate to invest the money in tax credits that turned out to be nonexistent.
Brees is just one of a number of former teammates suing Houser for swindling nearly $2 million worth of investments into the fraudulent tax credits from a defunct movie studio. The New Orleans superstar didn’t join in his fellow teammate’s original lawsuit in the hopes that the case could be settled out of court. When it became obvious to Brees and his lawyer, Daniel Becnel Jr., that Houser wasn’t willing to settle out of court, they had no choice but to file the lawsuit.
“We gave them an opportunity to settle,” Becnel said. “We didn’t want to file suit. We’ve been trying to negotiate with them.”
Former Saints TE Jeremy Shockey, former defensive coordinator Gary Gibbs, and head coach Sean Payton, also caught up in the investment scam, reached separate settlements with Houser, the terms of which were not disclosed.
While Houser has managed to escape jail time, the operator of the film studio that was supposedly looking for the investments, Wayne Read, hasn’t been so lucky. In May 2010 Read pleaded guilty to fraud charges and was sentenced to four years in prison for his role in the investment wrongdoings.