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Breakdown of What Ex-NBA Player Darius Miles Who Made $66M Has to Sell During Bankruptcy
Two months ago, it was reported that former Los Angeles Clippers forward Darius Miles, who last played in the NBA for the Grizzlies in the 2008-2009 season and finished his career making over $66 million, had recently filed for bankruptcy.
“Legal problems and bad investments have left Miles asking the court to allow him to sell off his assets to pay creditors. Miles listed $460,385 in assets and $1.57 million in liabilities.
Miles listed a $282,041 debt to the Internal Revenue Service. He also said that most of his debts aren’t consumer debts, but business debts. Miles owns a single-family home in Belleville with a value of $241,000. His car is a 2011 Chevrolet Camaro, valued at $20,000.
In addition to his Belleville home, he listed 12 other properties he owns, all in East St. Louis. He has a Deutsche Bank account with $49,000 and his son’s college fund with $84,900. He also listed ownership of various collectibles with unknown value, including trophies and signed jerseys, and jewelry.
Miles listed a $20,000 child support debt in his bankruptcy. He lost more than $100,000 in 2008 in a California real estate deal. Another real estate deal — with fellow investors former NFL Rams player Marshall Faulk and rapper Nelly — was mired in lawsuits over a Laclede’s Landing property. Newspaper stories wrote about Miles rewarding himself with diamond jewelry.”
TMZ recently obtained documents outlining what assets he has to sell to pay off his creditors.
“TMZ Sports has obtained court docs filed in Illinois where 35-year-old Miles — who made more than $60 MILLION in the NBA — filed for Chapter 7.
In the docs, the trustee overseeing Miles’ case says he intends to auction off a bunch of Darius’ valuables to pay back his debts — valuables that include the following:
– Autographed LeBron James jersey
– Autographed Mark McGwire bat
– PlayStation and Xbox consoles
– Large screen TVs
– approximately 1,000 CDs and DVDs”
The auction is set to go down on Dec. 14th in Illinois.