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.”
- Video: Sharks’ Brown runs Voynov into Quick, scrum ensues 0
- Opportunistic Rangers pull away from Flyers, take 1-0 series lead 43
- WATCH LIVE: Minnesota Wild at Colorado Avalanche (Game 1) 1
- WATCH LIVE: Chicago Blackhawks at St. Louis Blues (Game 1) 0
- Report: Hextall ‘in the mix’ for Vancouver GM job 24
- Fuel, meet fire: Torres to return for Sharks-Kings Game 1 11
- FYI: Hartnell and Voracek have black beards now 39
- Flyers want to ‘punish’ McDonagh 112
- Oshie and Berglund out, Tarasenko in for Blues tonight vs. ‘Hawks 9
- Ducks hold off spirited Stars comeback, take 1-0 series lead 12