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A man who pretended to be a businessman with ties to Saudi oil and embezzled $43 million from an ex-hockey MVP was convicted of fraud (Detroit Free Press)
"A former Grosse Pointe Shores man who swindled ex-Red Wings star Sergei Fedorov out of $43 million — and millions from dozens of other unsuspecting victims — was convicted in Florida today of 15 counts of fraud and two counts of making a false statement on a loan," reports Katrease Stafford.
Joseph Zada, who used to be Fedorov's financial manager, pretended to be a "rich and successful businessman with ties to Saudi Arabian oil ventures." He scammed 28 investors, including Fedorov.
Fedorov, 45, won three Stanley Cups and a Hart Trophy, and was the NHL's MVP when he was on the Red Wings.
"A former Grosse Pointe Shores man who swindled ex-Red Wings star Sergei Fedorov out of $43 million — and millions from dozens of other unsuspecting victims — was convicted in Florida today of 15 counts of fraud and two counts of making a false statement on a loan," reports Katrease Stafford.
Joseph Zada, who used to be Fedorov's financial manager, pretended to be a "rich and successful businessman with ties to Saudi Arabian oil ventures." He scammed 28 investors, including Fedorov.
Fedorov, 45, won three Stanley Cups and a Hart Trophy, and was the NHL's MVP when he was on the Red Wings.
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