Sep 6, 2013, 1:40 PM EDT
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.”
- Joe Sakic’s now general manager in name too 3
- Update: Giroux out two weeks with lower-body injury 22
- Update: Crosby on ice with Penguins teammates Friday, leaves early 4
- Ouch: Wild reportedly suspend Harding for ‘non-hockey injury’ 28
- Keeping Kuemper: Wild sign goalie to two-year deal reportedly worth $2.5M 15
- Selanne regrets harsh words toward Boudreau 9
- Flyers’ Timonen admits chances of playing are ‘really slim’ 8
- Desjardins (a.k.a. not Torts) makes good first impression on Canucks 28
- Leafs deny rift between Kessel and coaching staff 20
- Injured Crosby, Malkin will miss start of Pens’ camp 12
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands (62)
- Chiarelli: At some point, I’m going to have to trade a defenseman (56)
- Jackets reveal Johansen offers — including an eight year, $46M deal (55)
- Will the NHL publicize divers? (48)
- No icing on the PK? The USHL will see how that looks (43)