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A federal judge has discharged a $12.7-million bankruptcy case that was filed by former NBA star baller Antoine Walker, according to TMZ.

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At the time of the filing in 2010, Walker had a net worth of $4.3 million despite making more than $110 million throughout his professional NBA career.  Reportedly, Walker blew his monies on bad investments, gambling, family hand-outs, and other pricey personal indulgences. The three-time All Star player is now “slumming it” in the NBA’s Development League with the Idaho Stampede.

Walker is also reportedly forced to share his living expenses with a roommate, lives in a $915-per-month apartment, plays for a salary of less than $25,000, can’t afford to own a car, and lives on cold cuts, boxed cereal, and fast food.

Walker’s drop from grace was hard for the once-glorified and celebrated player who now runs across basketball courts for crowds of fewer than 155 spectators.  Things got so bad for the ex-Miami Heat player that he was forced to sell his 2006 Heat championship ring as part of the bankruptcy case, reports Sports Illustrated.

Walker once lived like a high roller and shared his enviable wealth with ex-fiancée, VH-1 “Basketball Wives” reality star Evelyn Lozada (pictured left). The 36-year-old newfound celeb, who is now wealthier than her ex and makes a reported $15,000 an episode on the hit show, is also being sued by the trustee of the case for allegedly receiving hundreds of thousands of dollars from Walker illegally.

The bankruptcy trustee believes that Walker gave Lozada $560,000 after filing with the courts and is suing Lozada, because the trustee insists that Walker tried to hide the money from his credit collectors by giving it to her, says TMZ.

The trustee is also claiming that Lozada took the money from Walker and used it to open her Miami boutique Dulce. Now the trustee is determined to get the money back.  Walker insists he gave his ex the money so that she could square away some bills, while Lozada is sticking to her story that she sold her engagement ring to open Dulce.   Lozada also claims that she was oblivious to the fact that Walker was so knee-deep in debt.

Walker has recently undergone a personal financial management course as part of the case.  He also supposedly learned the error of his spending ways and is looking forward to handling his money more wisely now.

Meanwhile, the case involving Lozada is still pending.


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