For a while now sneakerheads have been saying that the sneaker game is a “cold game.” One infamous reseller known as Zadeh Kicks has left many of his customers frost bitten as he’s allegedly snaked them out of millions of dollars.
Earlier this week the infamous reseller came under fire when he suddenly dissolved his LLC and allegedly ran off with millions of dollars in pre-orders that will now be going unfulfilled. Knowing that he’d have a target on his back, Zadeh had police protect him as he cleared out his warehouse of merchandise that he’ll no doubt sell elsewhere and make a killing off of.
Nice Kicks reports the outcry from the sneaker community has reached the FBI who’ve decided to investigate the claims against Zadeh Kicks and judging from the looks of things, Z might end up doing a bid behind his little Ponzi scheme. Subscribers to Zadeh Kicks newsletter received and email in which they were informed by The Receiver that they were working with the federal government in the criminal investigation already underway.
ZadehKicks.com is no longer accessible and all information is under control of a receivership who are aiming to reinstate the website. According to the email, the receivership will be working with creditors to ensure that victims who submit a claim will have opportunity to be part of a resolution process. Additionally, a telephone hotline will be announced by the end of the week where individuals will be able reach out. Aside from working with individuals towards solutions, the receivership will also be coordinating with the FBI as part of a criminal investigation.
Supposedly, even his wife was in on the scheme and has used StockX to fulfill some orders.
Should be interesting to see how this one ends up playing out but one things for sure, stop trusting resellers who don’t have the product in hand. Zadeh apparently took one “victim” for $77,000 in pre-orders. All that pre-order ish is for the birds in 2022.
What do y’all think of this latest sneaker scam? Let us know in the comments section below.