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CoolKicks co-founder taken into custody during live stream after LAPD raids: Who is Adeel Shams and what is his net worth?
CoolKicks co-founder Adeel Shams was arrested in Los Angeles on felony fraud charges during an LAPD raid. The high-profile sneaker reseller's arrest, which occurred during a live auction, sparked widespread speculation about counterfeit goods. CoolKicks later clarified the incident involved allegedly stolen Nike sneakers purchased in good faith, denying any knowledge of their illicit origin.
CoolKicks co-founder Adeel Shams was arrested in Los Angeles on fraud charges following a raid by the LAPD. Adeel Shams was arrested Thursday afternoon during a raid by the Los Angeles Police Department. The high-profile sneaker reseller, best known for its Melrose Avenue flagship and social media presence, is now at the center of a major investigation. As per social media rumours, CoolKicks was raided by the LAPD while owner Adeel Shams was streaming a live sale on Whatnot.
Adeel Shams was arrested on October 2 around 4:45 p.m. local time at a Cool Kicks warehouse. At the time, the company was hosting a live auction on Whatnot, which also was abruptly cut off as the raid took place. The incident spread quickly across sneaker forums and social media, fueling speculation about the cause.
Authorities confirmed Adeel Shams was booked on felony fraud charges. The LAPD's BUNCO/Forgery Division, which investigates financial crimes and counterfeit goods, is leading the case. His arrest sparked speculation that he might be involved in counterfeit sneakers or fraudulent practices within the resale market.
Cool Kicks has built a reputation as one of the most visible resale shops in the country. Founded in Los Angeles, the store became famous for its mix of high-end sneakers, celebrity clientele, and also viral YouTube content showcasing rare finds.
ALSO READ: CoolKicks issues first statement after LAPD's arrest of Adeel Shams and warehouse raid rocks sneaker world
Who is Adeel Shams?
Adeel Shams started Cool Kicks in 2014 while studying at Virginia Commonwealth University. The store moved to Los Angeles in 2016, opening on Melrose Avenue and quickly becoming a cultural hub for sneaker enthusiasts. Its YouTube channel and celebrity guest appearances helped Cool Kicks become one of the most recognizable resale shops in the United States.The arrest happened on the evening of October 2, with Shams briefly detained before being released just after midnight on Oct. 3. Industry outlets reported that trucks were seen removing inventory during the raid. The Whatnot livestream showed the first moments when officers entered the store, surprising Shams and viewers.
A Canadian technology innovator, Adeel Shams has successfully launched multiple startups specializing in artificial intelligence (AI) and machine learning. His dedication to leveraging these technologies to improve daily life has driven several groundbreaking advancements, as per multiple reports.
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Recently, Shams has been featured at numerous technology conferences and forums, sharing his perspectives on AI's future and its transformative potential across sectors such as healthcare, education, and renewable energy. His flagship initiative, “SmartHealth AI,” focuses on predictive analytics for patient care, aiming to enhance treatment outcomes while optimizing hospital operations.
Cool Kicks has built its name on sourcing and authenticating rare sneakers, but the resale market has faced growing scrutiny in recent years. Disputes over counterfeit goods, including lawsuits involving other resale platforms, have made trust and verification key issues for buyers. According to CEO Outlook Global, Adeel Shams has an estimated net worth of $9.5 million as of 2025.
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CoolKicks breaks silence
Cool Kicks later issued a statement claiming the matter related instead to allegedly stolen goods sold in good faith. Shams was released on his own recognizance after midnight on October 3rd. His first court appearance is scheduled for October 23 at the Los Angeles Superior Court.CoolKicks told HT that the LAPD "impounded a small allotment of Nike sneakers that CoolKicks purchased and received within the last 48 hours, alleging that the merchandise was stolen. This news came as a complete shock to our entire team.”
“Neither CoolKicks leadership, nor our staff, had any knowledge or reason to believe that these products were stolen. We entered into this purchase in good faith, as we always have, committed to running an honest business built on integrity and trust.”
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The company also clarified that law enforcement made no allegations that the merchandise was counterfeit.
“CoolKicks takes pride in serving our loyal community with authentic, high-quality products and service; it is at the heart of our culture. We want to reassure our community that the integrity of our products remains our highest priority. We are confident the truth will come out, and the trust we have worked so hard to earn will remain strong,” the company said. “We deeply regret the concern and inconvenience this situation may have caused. CoolKicks has always stood for honest business, and that commitment will never change.”
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Source: EconomicTimes
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