What is Adeel Shams' net worth? CoolKicks founder arrested after LAPD raid
CoolKicks founder Adeel Shams was arrested during a live stream. A court date has been set for October 23.
Adeel Shams, the founder of the popular sneaker resale brand CoolKicks, was arrested during a live stream after Los Angeles Police Department officers raided the store, according to a report from Complex. The LAPD's Bunco/Forgery Division led the arrest, official booking records confirm.
Shams was reportedly released at midnight, and a court date has been set for October 23 at the Los Angeles Superior Court.
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CoolKicks responds
In a statement to HT.com, CoolKicks confirmed that the LAPD "impounded a small allotment of Nike sneakers that CoolKicks purchased and received within the last 48 hours, alleging that the merchandise was stolen. This news came as a complete shock to our entire team.”
“Neither CoolKicks leadership, nor our staff, had any knowledge or reason to believe that these products were stolen. We entered into this purchase in good faith, as we always have, committed to running an honest business built on integrity and trust.”
The company also clarified that law enforcement made no allegations that the merchandise was counterfeit.
“CoolKicks takes pride in serving our loyal community with authentic, high-quality products and service; it is at the heart of our culture. We want to reassure our community that the integrity of our products remains our highest priority. We are confident the truth will come out, and the trust we have worked so hard to earn will remain strong,” the company said. “We deeply regret the concern and inconvenience this situation may have caused. CoolKicks has always stood for honest business, and that commitment will never change.”
Adeel Shams' net worth
According to CEO Outlook Global, Adeel Shams has an estimated net worth of $9.5 million as of 2025.
