Tweet
Another former NBA All Star is bankrupt, Derrick Coleman is almost $5 million in debt. But at least his latest lost came from trying to help others.
"Coleman has filed for bankruptcy and owes creditors $4.7 million, most of which he lost in failed attempts to stimulate Detroit's struggling local economy. Mr. Coleman was focused on investing in various communities throughout the city of Detroit by developing real estate, creating jobs and revitalizing business opportunities," Berke said. "Due to the state of the economy, including the decline in the real estate market, Mr. Coleman's investments could not be sustained."
"Coleman has filed for bankruptcy and owes creditors $4.7 million, most of which he lost in failed attempts to stimulate Detroit's struggling local economy. Mr. Coleman was focused on investing in various communities throughout the city of Detroit by developing real estate, creating jobs and revitalizing business opportunities," Berke said. "Due to the state of the economy, including the decline in the real estate market, Mr. Coleman's investments could not be sustained."
Comment