Allen Iverson once paid $859,896 for skipping lawsuit over ignoring $375,000 bling bill

Allen Iverson, also known as "The Answer," was involved in an incident in the 2010s that revealed he doesn't always answer. The NBA Hall of Famer faced a significant financial loss when he ghosted his jewelers, losing nearly a million dollars.

In 2010, Aydin & Company (A&C) Jewelers filed a lawsuit against Iverson for reportedly not settling a $375,000 invoice for his purchases.

Iverson chose to ignore this, and the court ruled in favor of A&C, granting them a payment of $859,896.46, which included the cost of the jewelry, the interest incurred and court and attorney fees.

Although Iverson had made $154,770,668 in NBA contract earnings throughout his 14-year career, he lost almost a million dollars, a significant sum.

Iverson continued disregarding the bills he was served with, leaving the judge presiding over the case with no option but to authorize the jewelers to access Iverson's personal Wells Fargo accounts directly.

This incident has led to the misconception that Iverson was broke. However, in reality, he has an account valued at $32 million, which he cannot access until he reaches the age of 55. This account does provide him with an annual release of $1 million.

Iverson, 48, also started receiving an NBA when he reached 45, which amounts to $8,000 per month or $96,000 annually.

Allen Iverson named Reebok VP of basketball

Recently, Reebok has enlisted Hall of Famers Shaquille O'Neal and Allen Iverson to help rejuvenate its brand and enhance its image in the basketball scene.

O'Neal, Reebok’s first signature athlete, has taken on the role of Reebok's President of basketball, while Iverson has assumed the position of Vice President of Basketball.

Iverson's $32 million trust fund was part of his lifetime agreement with Reebok, a deal formalized in 2001, the year he won the MVP award and steered the Philadelphia 76ers to the NBA Finals.

Shaq commended Iverson for being an iconic brand ambassador for Reebok, acknowledging his cultural significance and impact on basketball.

“AI is a founding father of Reebok Basketball and has left a lasting impact on the game and its surrounding culture,” O'Neal said via Boardroom. “There is no one I’d rather work with to bring a new generation of ballers to Reebok than him. Shaq and AI back at it — feels good.”

Recently, Iverson said Shaq was the primary obstacle that prevented him from winning an NBA championship, as his only finals appearance was against Shaq and Kobe Bryant's formidable Lakers team.

It’s exciting to see what Iverson’s collaboration with Shaq, whom he hailed as the "greatest big man ever," will produce.