Shilo Sanders files for bankruptcy to absolve $11.8 million judgement tied to assault
Colorado safety Shilo Sanders filed for bankruptcy in December 2023 to absolve an $11.89 million dollar judgement against him tied to an assault when he was in high school, according to court records.
The filing raises concerns about Sanders’ history and a lack of NIL earnings reported to the court. The bankruptcy schedule initially gathered on December 19, 2023 shows Sanders claiming $477,881 in assets, including $300K in a Robinhood account and $8K in a Wells Fargo account. Nothing was declared from any of Sanders' NIL projects, which were booked primarily through SMAC Entertainment. The top item line is for a Mercedes GLE AMG 635 valued at $75K. The declared value of Sanders' assets was since readjusted to $320,477.10 without any NIL deals reported to the court.
"Contrary to the schedules, Shilo has admitted acquiring vast amounts of high end and expensive clothing," according to court documents. "For example, on his YouTube Channel posted on May 4, 2023, he states, “Alright we at the Louis (Vuitton) Store I am trying to spend at least $50,00.00 today.”The schedules omit all of the Louis Vuitton wallets, bags, luggage, clothing, or
shoes displayed on his Instagram, TikTok, and YouTube accounts"
The documents went on to detail a lack of declaration of assets. "The schedules make no mention of any number of partnerships, deals, and/or contracts with any agents and/or managers including but not limited to SMAC Entertainment, Well Off Media, Colorado University, Tabetha Plummer, Georgie Moskowitz, Constance Schwartz, and any other company/agent/manager.
"At the meeting of creditors, Shilo claimed to possess little to no knowledge of the formation or workings of Big 21, LLC and SS21, LLC except that Shilo is the sole owner of each entity and that the entities are the purported vehicles for contracting the paid promotional appearances and/or Name, Image, and Likeness (“NIL”) transactions of Shilo. (He) also fails to address in the Schedules the NIL deals, contracts, and/or payments made to him and/or to his companies for any of the obvious paid engagements"
The bankruptcy proceeding was filed after Sanders lost a civil lawsuit in 2022 that stemmed from an alleged assault of a security guard at his Dallas high school in 2015.
A lawsuit filed in Dallas District Court in 2016 alleged the security guard, John Darjean, had “sustained severe and permanent injuries including a broken neck, damage to his cervical spine, permanent neurological injuries and irreversible incontinence,” according to a 2024 filing in the bankruptcy proceedings. These injuries were allegedly caused when Sanders elbowed and continued to hit Darjean during an altercation.
Sanders failed to appear in court before the $11.89 million judgement was levelled against him. Here's a detailed filing from the plaintiffs in the case with a full history.
Shilo Sanders Bankruptcy documents thread (1 of 8) pic.twitter.com/VnkbKrD749
— BuffsBeat (@BuffsBeatSI) May 24, 2024
Sanders is expected to be out for the start off the season after shoulder surgery to repair damage right after Colorado's Spring Game.
This story will be updated .
JOSH TOLLE