Utah Jazz assistant coach Jason Terry is accused of stiffing a New York celebrity jeweler over a diamond Rolex wristwatch worth $25,000 that he rented for an event and later agreed to purchase, court papers allege.
The ex-Dallas Mavericks guard rented the 23.5-carat stainless steel timepiece from Eric Mavachev, who is better known as Eric Mavani and is nicknamed “Eric Da Jeweler,” per a Manhattan Supreme Court lawsuit filed Monday.
The 2011 NBA champ borrowed the luxurious watch to wear at Drai’s nightclub in Las Vegas during the 2023 NBA 2K24 Summer League, Mavachev’s lawyer Mark Shirian told The New York Post.
Furthermore, the jeweler agreed to sell the piece to the Jazz assistant coach for $25,000, which Terry agreed to, according to the lawsuit Mavachev filed against Terry through his company, Eric & Co. Trading Group LLC.
Shirian claims he and his client gave Terry 30 days to pay the full amount. Of course, Terry failed to pony up the dough, prompting the breach of contract lawsuit. Not to mention, he has yet to return the Rolex.
“Despite earning over $100 million in the NBA, Mr. Terry has failed to fulfill his financial obligations and has not made the necessary payments for the valuable timepiece,” Shirian told The Post. “We are prepared to use all available legal avenues to recover the outstanding payment for the watch.”
“Terry has not paid plaintiff the total amount of $25,000.00, which is the agreed upon value of the Rolex watch, and has not returned the Rolex watch to Plaintiff,” the suit reads.
Former Dallas Mavericks guard and Utah Jazz assistant coach Jason Terry is refusing to pay New York celebrity jeweler Eric Mavachev $25,000 for a 23.5-carat, diamond Rolex wristwatch
Mavachev has sold jewelry in the past to various celebrities, such as former undefeated boxing champ Floyd Mayweather and retired seven-time Super Bowl champion quarterback Tom Brady.
Rappers Snoop Dogg and Tyga and model Kim Kardashian are among the other celebs that Mavachev has done business with over the years.
As a matter of fact, this is not the first time Jason Terry will make a courtroom appearance.
In 2012, the former NBA player sued his financial advisors, alleging they scammed him out of millions of dollars. The Washington native claimed in court that his financial advisers cost him $2.4 million by putting his money into risky investments, a few of which were Ponzi schemes.
Moreover, Terry sued Suntrust Banks, Adam Fein, Martin Kelly Capital Management, CSI Capital Management, and William C. Crafton Jr. in Federal Court. He claimed in his 24-page complaint that he became involved with Crafton in 2006.
The 19-year NBA guard said the defendants “did not invest plaintiff’s money in safe investments and did not provide high-quality wealth management services, but rather misappropriated his funds for Crafton’s personal use; invested plaintiff’s money in illiquid, high risk, alternative investments; invested plaintiff’s money in Ponzi schemes run by his friends and colleagues and/or transferred and/or commingled plaintiff’s money among other investors and athletes whom Crafton represented to prevent them from discovering Crafton’s frauds, schemes and poor investment strategy as well as plaintiff’s financial losses.”
Source: Basketball Insider