Sep 6, 2013, 1:40 PM EST
From The Detroit News:
Sergei Fedorov’s financial manager, who allegedly swindled the former Red Wings star out of $43 million, was indicted this week by a federal grand jury in connection with a fraud scheme involving phony Saudi Arabian oil deals.
Instead of investing the money, Grosse Pointe Shores resident Joseph Zada allegedly spent more than $20 million bankrolling a lavish lifestyle, including extravagant parties, luxury vehicles and homes in Florida and Michigan, according to the indictment.
Fedorov, 43, was not the only who was allegedly wronged by Zada. There were apparently “more than 20 people who invested,” according to the indictment.
“It’s been a trying and difficult ordeal that Joe Zada put him through but right now I’d say he is doing well,” Fedorov’s lawyer, Brendan Frey, told the newspaper today. “He is glad to see Joe finally indicted.”
- TGIF: Five NHL games to watch this weekend 2
- Wounded Wing: Howard (MCL sprain) out 2-4 weeks 2
- Wild coach accuses Sharks of embellishment 61
- Lundqvist hooked after three first-period goals as Rangers’ woes continue 28
- Burke wants the Flames to be — yep, you guessed it — more ‘truculent’ 46
- Flames fire GM Jay Feaster 36
- Video: Projected rise in salary cap could have some players ‘licking their lips’ 22
- Discuss: Blackhawks score big on Rivalry Night on NBCSN 37
- Crosby: If I had to guess Thornton’s suspension, I’d say 10 games 85
- Cowen gets two-game suspension for hit on Girgensons 12
- Video: Penguins’ Orpik stretchered off ice; Bruins’ Thornton given match penalty (184)
- Neal suspended five games for kneeing Marchand in the head (156)
- Bruins coach admits Thornton crossed the line, slams Pens for not being ‘truthful’ (138)
- Pens put Orpik on IR (132)
- Orpik suffers from concussion, including memory loss (118)