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Man charged with stealing $200,000 worth of merchandise from Nike store out of jail on bond

The robbery took place around 4:00 a.m. on Thursday, and Steven Busby was arrested later that morning.

MEMPHIS, Tenn — A Memphis man facing a long list of charges, including stealing $200,000 worth of merchandise from a Nike Employee Store in Frayser, is out of jail on bond.

A grand jury is set to hear another case against him, involving an aggravated assault at a restaurant in March 2023.

Steven Busby is charged with theft, burglary, weapons, and drugs, and also aggravated assault for a previous incident. Bond was originally set at $125,000 and a public defender assigned during a court hearing on Sept. 11. During a hearing on Sept. 12, bond was lowered for the weapons and assault cases to $20,000, and he got ROR (released on own recognizance) on the theft and burglary charges. 

Memphis Police said about 4 a.m., Thursday, Sept. 7, 2023, a Nike store security guard said they were taking their lunch break inside their car when they suddenly heard a "loud boom" and saw a man open the door to a storage trailer before calling their supervisor. 

When MPD arrived, they said five vehicles, four sedans and one pickup truck sped away from the store at 3205 Victory Ridge Cv. with their lights off. 

Investigators said they found the back gate to the store open and the chain cut. They also found boxes thrown around near the back of the store and a tractor-trailer with its contents rummaged through and opened, MPD said.

According to the store manager, the suspects stole around $200,000 worth of merchandise.

Later that same morning, Shelby County Sheriff's deputies and SWAT executed a warrant at two different locations. According to the affidavit, Busby was at one of those locations and tried to take off as deputies arrived. He was detained along with two others. The affidavit said a search turned up drugs and paraphernalia, loaded guns, and several boxes of new Nike shoes and apparel with tags. Investigators said they also found a stolen Dodge Ram 1500 in the backyard.

According to the affidavit, detectives contacted Nike about the items found, and Busby was then charged with the theft from the storage trailer that morning.

The affidavit said Busby denied anything in the home was his except some clothing in suitcases. Investigators said they found mail addressed to Busby at that home. 

Once in custody, detectives said they learned Busby had an active warrant for aggravated assault, which according to the affidavit involved a fight at a restaurant on March 6, 2023, where Busby was accused of pulling a gun and threatening the victims. That case was turned over to be heard by a grand jury on Sept. 26.

Busby had also previously been convicted for aggravated assault in 2019 according to the affidavit.

Two others at the scene of the warrant search were also charged with drug offenses.

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