Along With Losing $66M, Ex-NBA Player Darius Miles Loses Everything In Bankruptcy Sale, LeBron Jersey, Guns & VHS Players
It was reported last September that former NBA player Darius Miles, who last played in the league with the Memphis Grizzlies during the 2008-2009 season, made upwards of $66 million during his career, but lost absolutely everything and filed for bankruptcy.
Months after, his bad investments left him 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.”
He was ordered to sell off his stuff to pay back creditors. The sale went down recently in Illinois. Here’s a breakdown of everything he sold and what he got for it.
— LeBron James signed jersey ($1,500)
— Larry Bird signed jersey ($100)
— AR15 firearm ($500)
— Beretta Cx4 Storm gun ($400)
— Self-contained karaoke machine ($75)
— Dirk Nowitzki signed shoe ($375)
— Lamar Odom signed shoe ($225)
— 5 VHS players (total of $21.50)
They even sold his toaster for $2.00
There was a lot more stuff — and in total, Miles got $12,780 from the sale.