Ex-NBA player Darius Miles files for bankruptcy

Darius Miles, an NBA veteran of nine seasons, filed for bankruptcy in June, according to the Belleville News Democrat.

Having burned though over $60 million in earnings, the veteran of four franchises requested the court allow him to sell off assets to pay off his creditors.

Miles listed $460,385 in assets and $1.57 million in liabilities. He claims that a string of poor investments – not consumer purchases – led to his financial ruin.

Nevertheless, Miles finds himself in a familiar spot for NBA players. Roughly 60 percent of players file for bankruptcy within five years of retirement.

The 36-year-old Miles most recently played for the Memphis Grizzlies in 2008.

source: thescore

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