CoolKicks founder arrested after $500K worth of stolen Nike merchandise found at warehouse: police
NEWYou can now listen to Fox News articles!
The founder of a popular sneaker and apparel retail company was arrested last week after authorities allegedly discovered thousands of stolen Nike items during a raid in Southern California.
The Los Angeles Police Department said officers executed a search warrant Thursday at the CoolKicks warehouse in Santa Monica, working alongside several law enforcement agencies.
Investigators reportedly recovered more than 2,100 pairs of Nike shoes and 150 cartons of Nike apparel valued at approximately $500,000.
FORMER MIAMI HEAT EMPLOYEE CHARGED FOR SELLING $2M IN STOLEN GEAR
CoolKicks founder Adeel Shams, 34, was arrested after authorities allegedly uncovered $500,000 worth of stolen Nike merchandise in a Los Angeles warehouse raid. (LAPD)
Adeel Shams, 34, the founder of CoolKicks, was arrested at the scene and booked on suspicion of receiving stolen property. He has since been released from custody, according to jail records.
In a social media post, CoolKicks said news of the stolen merchandise it had purchased was a “complete shock” to the company.
BRAZEN BLUE STATE JEWELRY STORE HEIST CAUGHT ON CAMERA AS ARMED MOB MAKES OFF WITH $1M IN MERCHANDISE: POLICE
At CoolKicks, on Melrose Avenue, in Los Angeles, CA, there are more than 2,000 shoe options, with the majority being Nike. (Jay L. Clendenin / Los Angeles Times via Getty Images)
“We entered into this purchase in good faith, as we always have—committed to running an honest business built on integrity and trust,” the statement read.
The company also said that no allegations have been made suggesting the products were counterfeit.
The raid occurred while CoolKicks was livestreaming an auction on the WhatNot platform. Shams, who was on camera at the time, appeared startled and asked whether he was the victim of a swatting incident.
An employee at sneaker store CoolKicks, on Melrose Avenue, in Los Angeles, California, wears a chain with the company logo, photographed Friday, Sept. 22, 2023. (Jay L. Clendenin / Los Angeles Times via Getty Images)
CLICK HERE TO GET THE FOX NEWS APP
Shams is scheduled to appear in court later this month. The investigation remains ongoing.
[title_words_as_hashtags
