Former Professional Basketball Player Darius Miles Sought for Bankruptcy Protection in June

by San Antonio Attorney

Former professional basketball player Darius Miles sought for bankruptcy protection in June, stating $460,385 in assets and $1.57 million in debts.

Miles played for seven seasons in NBA between 2000 and 2009 in four different teams.

In his bankruptcy petition, he listed a $20,000 unpaid child support.  He lost about $100,000 from a real estate transaction in 2008.  He faced more problems in another real estate transaction — with other investors, rapper Nelly and former football player Marshall Faulk.  The deal was caught up in complaints over a property in Laclede’s Landing, St.  Louis, Missouri.  Stories were written about the former NBA player rewarding himself with a large diamond earring.

Miles also declared 13 properties under his name, many trophies, jewelry and signed jerseys as his assets.

Adonal Foyle, former vice president of National Basketball Players Union, said in an interview that it is not easy for athletes, especially the ones who didn’t attend college, to be equipped to comprehend the business facet of what they get involve with.

According to reports, Miles made almost $62 million during his stint in the NBA.  That amount doesn’t take account of endorsement deals and acting gigs he got during his career.

Miles appeared to be poised for an extensive and thriving professional basketball player.  After getting the title of Illinois’ Mr. Basketball as a senior high school student in 2000, he turned out to be the highest-drafted player from high school when he was chosen by the Los Angeles Clippers.

After the playing career of Miles was over, he was detained in August 2011 and afterward charged for carrying a loaded firearm through Lambert Airport security.

The 34-year old former athlete also played for the Memphis Grizzlies, Cleveland Cavaliers and Portland Trail Blazers.

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