A federal grand jury this week indicted a famous Los Angeles sneaker seller for his role in an organized theft ring that stole more than $2 million worth of shoes from a Nike distribution hub.
Bereket Abraham, owner of Coolkicks, and 11 others are accused of operating the theft ring from July 2021 to June 2024, mainly targeting the Nike’s warehouse in Memphis, Tenn.
According to the indictment, the group would locate products at the warehouse that they wanted to resell. Members of the theft ring who worked at the warehouse would then put shipping labels on the boxed products that were provided by the sellers. The stolen products would then be shipped to the sellers, who would then sell the stolen goods for sale at retailers, including Coolkicks.
The indictment comes months after the Los Angeles Police Department carried out a raid of Coolkicks’ warehouse in Los Angeles.
The October raid led police to recover an estimated $500,000 worth of stolen Nike goods, according to authorities.
Police arrested Adeel Shams, chief executive of the company, who was booked on suspicion of receiving stolen property. Shams did not immediately respond to a request for comment.
CoolKicks is a sneaker destination for new and used shoes frequented by celebrities, influencers and professional athletes. It offers thousands of collectible sneakers and has two locations in Los Angeles, including one on Melrose Avenue in the Fairfax District.
The company is also well-known for its viral short videos, in which its internet-famous sneaker-authenticator Rami Almordaah evaluates, buys, and sells rare sneakers that often cost thousands of dollars.
A company representative did not immediately respond to a request for comment.
The post CoolKicks owner indicted in alleged $2-million Nike warehouse theft scheme appeared first on Los Angeles Times.
