Retired NBA player Antoine Walker (whose former fiancee Evelyn Lozada was accused of helping him go broke) appeared on the ESPN documentary series “30 For 30: Broke” recently where athletes reveal their financial struggles and how they lost their millions.
Antoine, who had a storied NBA career as a three-time all-star, opened up about how the real estate market, gambling debts, and frivolous spending wiped out his $110M fortune. He was forced him to declare bankruptcy in May 2010, two years after retiring from the NBA.
So what happened?
“Personally, I was involved in a lot of real estate projects with the banks where I was the personal guarantor of the loans. And when the recession hit back in 2007 and 2008, the banks went really hard after the money. There’s probably like 7 to eight banks that we had loans with. And it kind of hit me all at once. I had to pay back the money.”
He added, “You create a lifestyle for yourself. You’re spending a lot of money as you’re living through a 13-year NBA career.”
Backruptcy docs also revealed that Antoine’s gambling debts, getting robbed twice and spending $2M on friends also contributed to his $12.7M in debts and left him with $4.3M from his fortune.
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Stone Soul 2016 [PHOTOS]
14 photos Launch gallery
1. @lifeofdesiigner has the #1 song in the countryyyy! performing live at #stonesoulrva right now!!!
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2. Behind the scenes interview with 112 & @djkingtutt804 . Check out the full interview on Facebook live!
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3. 💙💖 my oldest princess and I #stonesoul2016 #stonesoulrva #rva #summerfestival #ipower92 @ipowerrichmond #vitiligo #vitiligomodel #vitiligoin #confidence #hot #vitiligopride #nocuredontcare #vitiligobeauty #vitiligobeauties
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4. Lil Kim just KILLED #stonesoulrva ! lighters up!!!
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5. Behind th scene with @camvseverything & @yogottikom at #stonesoulrva
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6. Paris Nicole and MadeInTYO
Source:Radio One Richmond
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7. Another @hot1041stl #superjam2016 artist s going live n Richmond for #stonesoulrva
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8. @camvseverything backstage with @madeintyo at #stonesoulrva !!!
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9. @paris_nicole & @thebellereport backstage at #stonesoulrva !!!!
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10. Dreezy @hot1041stl #superjam2016 we live in Richmond va for #stonesoulrva
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11. Paris Nicole getting ready for Stone Soul 2016
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12. @dreezydreezy just finished up her interview with @camvseverything !!! #stonesoulrva
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13. Big G and I #Wpgc #DC live at #stonesoulrva
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14. @yogottikom about to shut the city down #StoneSoulRVA
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