Shoe Reseller Zadehkicks Mysteriously Dissolves, Leaving Customers With Millions in Limbo
A popular shoe reseller filed for voluntary dissolution last week, citing the fact that he had millions more in debt than in sales, a move that has the FBI investigating.
Zadehkicks, which has mysteriously offered hot shoes at low prices, built up a huge database of customers, many of whom paid way ahead of time Propet Sneakers to preorder shoes that would eventually release.
But the business, run by Michael Malekzadeh, said it was “unable to meet its debts as they become due in the ordinary course of business.”
In the past 48 hours, customers have been scrambling to try to get money back. Because of the nature of the pre-orders, many customers could be out because it is beyond the recovery date.
Customers, who said they were out as much as $100,000, showed their receipts on so...