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flag CEO Adeel Shams arrested in LAPD raid over 2,100 stolen Nike sneakers; charged with felony.

flag Adeel Shams, CEO of Santa Monica-based sneaker retailer Coolkicks, was arrested on October 2 during an LAPD raid on the company’s warehouse, where authorities seized over 2,100 pairs of unreleased Nike sneakers and $500,000 in apparel, alleging they were stolen. flag Shams, who was live-streaming a sale at the time, faces a felony charge for receiving stolen property valued over $950. flag He was released the next day on his own recognizance and is scheduled to appear in court on October 23. flag Coolkicks denies knowledge of the items’ stolen status, stating they were purchased in good faith and that no counterfeit goods were involved. flag The investigation remains ongoing.

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