SANTA MONICA—Adeel Shams is the Chief Executive Officer of Coolkicks, a retail company that sells sneakers. On Thursday, October 2, he was arrested during a police raid on the company’s warehouse, located within the 700 Stewart Street in Santa Monica.
When Shams was arrested, he conducted an auction and recorded it, so he could stream it live on the internet through the Reddit site.
Afterwards, he was charged with receiving known stolen property of a value of over $950. Shams went to jail. However, the next day, he was released on his own recognizance.
The raid was conducted by officers from the Commercial Crimes Division, and three other individuals were also taken into custody by the police. In addition, the police impounded a collection of Nike sneakers, which they claimed were stolen and were received by Coolkicks within forty-eight hours before the auction started.
CoolKicks has stated that they were unaware that the shoes were stolen.
Adeel Shams will appear in court on October 23.
