NewsShilo Sanders Faces Scrutiny Over Income Amid Bankruptcy Filing

Shilo Sanders Faces Scrutiny Over Income Amid Bankruptcy Filing

Shilo Sanders, a son of Colorado head coach Deion Sanders, is questions surrounding his income.

Sanders seemed to file the bankruptcy to absolve the debt. But now his bankruptcy filing is being called into question.

According to Westword, none of the items Sanders routinely displays on his social media accounts were included in his earnings discourse, to which his attorneys replied that Sanders is not obligated to itemize his personal property. 

Darjean’s filing further scrutinizes Sanders’ claim not to know what his role is in ventures referred to as SS21 LLC or Big 21 LLC aside from being the sole owner of them and that they are designed to contract paid appearances for his NIL ventures. 

“On the surface, this omission is as glaring as it is preposterous because it is Shilo’s very NIL value and/or public value that are the source of the non-stop paid engagements and social media appearances,” the filing says. “The entire underpinning of the NIL concept is the value of the individual athlete, but Shilo chose not only to hide the value of the entire NIL endeavor with the ‘unknown’ listings for the two of the entities that were disclosed (Big 21 LLC and/or SS21 LLC), but Shilo intentionally failed to identify and disclose his individual NIL property interest anywhere in the schedules.”

The filing also refers to Sanders’ NIL portfolio as the most lucrative and highly valued of Sanders’ assets; Sanders, meanwhile, asserts in his own filing that Darjean’s filings amount to a violation of the protective order issued by the State of Texas. 

In February, Sanders’ lawyers argued that the $11.3 million judgment represented an undue burden on their client, writing in court documents, “Given the size of the judgment and the fact that Shilo was an undergraduate college student looking towards graduate programs, the creation of a post-judgment receivership would have a permanent effect on his ability to start his life after graduation, and would likely result in the Debtor (Sanders) remaining subject to collection efforts from the Plaintiff for the rest of his life.”

The filing added, “As a result, the Debtor filed his voluntary petition for relief pursuant to Chapter 7 of the Bankruptcy Code to allow him to get a fresh start, free from the oppressive burden of his debts.”

RELATED CONTENT: Coach Prime’s Son Shilo Sanders Set Sights On Gridiron Glory At NFL Honors

Source: Black Enterprise

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