And now laid low. The Globe does a good job of giving some perspective on how someone can basically blow a fortune:

Financial advisers often caution professional athletes to look at the big numbers on their contracts and subtract half for taxes. That rough math would have left Walker with approximately $55 million in career earnings to spend. NBA agents and players contacted for this article say an annual "burn rate'' of $2 million to $4 million isn't unusual for the living expenses of an elite player. With Walker's taste for the finer things, former teammates suspect he fell on the higher end of the scale. In the 10 years since his first max-contract, that could account for about $40 million of Walker's total wealth.

Follow the link for the sad details.