Before he was requiredinjected bankruptcylast month by three unhappy lenders, popular Portland executive Sho Dozono sought help from a few of Oregons deepest pockets, including Nike co-founder Phil Knight.
New files filed in Dozonos bankruptcy case showed he obtained $500,000 from Knight in 2012 and 2013.
It wasnt enough to stop Dozonos slide. In all, the one-time Portland mayoral candidate noted $5.85 million in overall debts vs. $1.16 million in possessions.
He owes $285,146 in back taxes. The Internal Revenue Service has garnished his social security checks.
Dozonos fortunes waned when the travel company business model was squashed by the 2008 recession and introduction of the Web. Dozono soldsold the corporate side of Azumano in November 2012 to CI Travel of Norfolk, Virginia. Dozono tried for more than a year to prop up what was left of his travel agency. It didnt exercise, and he ultimately offered off the retail side of Azumano to CI too.
As Dozonos company empire withered, he rushed for money to fund the hoped-for turn-around. He went to Knight in May 2012 seeking $300,000. Ten months later, he was back at Knights door, this time asking for $200,000.
Dozono stated he had actually gotten to knowbeinged familiar with Knight back in the 1990s when he helped raise money for the Portland Public Schools Structure. He made use of Knights cash to prop up his travel company.
Every dollar I ever obtained from anyone went back into the companybusiness, Dozono said.
By February, 3 of Dozonos creditors, collectively owed more than $500,000, were fed up. They required Dozono into Chapter 7 bankruptcy.
Lenders could find out more about Dozonos monetary condition at the April 23 meeting of lenders. Debtors are required to appear at these conferences and testify under oath about their financial resources. The meeting is scheduled to take location at 10 am in the old Gus J. Solomon United States Courthouse in downtown Portland.
— Jeff Manning