Drew Brees, New Orleans Saints quarterback, has settled a lawsuit with his former teammate, Kevin Houser (CRD# 4072700), who is a licensed securities broker. Houser allegedly advised Brees to invest $160,000 in tax credits. According to the court, it allegedly was investment fraud.
The lawsuit, filed in federal court in 2013, alleged the former Saints long snapper Houser, mishandled Brees' money and failed to disclose his own financial interests in the investments which he promoted. Co-plaintiff was ex-Saints receiver David Patten who also agreed to the settlement.
Saints former players Jeremy Shockey and Gary Gibbs, and Coach Sean Payton reached their own separate settlements with Houser with this same investment.
According to FINRA's BrokerCheck, Kevin Houser is currently registered with the following securities firm:
SECURITIES AMERICA, INC. (CRD# 10205)
1774 SETTLERS RESERVE WAY, WESTLAKE, OH 44145
Registered with this firm since 01/2009
Kevin Houser was previously registered with the following securities firm(s):
Registered Dates Firm
12/2002 - 01/2009 BRECEK & YOUNG ADVISORS, INC. (CRD# 40395) - WESTLAKE, OH
01/2001 - 03/2001 DONAHUE SECURITIES, INC. (CRD# 24330) - CINCINNATI, OH
11/1999 - 10/2000 NYLIFE SECURITIES INC. (CRD# 5167) - NEW YORK, NY
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