"Basketball Wives" Evelyn Lozada Sued For Helping Blow NBA Star's Fortune

Evelyn Lozada -- one of the stars of "Basketball Wives" who was once engaged to former NBA All-Star Antoine Walker -- is being sued for allegedly receiving hundreds of thousands of dollars illegally.

The story is shocking. Walker raked in a whopping $110 million during his NBA career, in addition to untold millions in endorsements and other deals ... and he blew ALL OF IT and a lot more.

Walker filed for bankruptcy last year, and now the bankruptcy trustee smells a rat. It seems Walker gave Lozada $560,000 when he already knew he was going belly up. The trustee has sued Lozada, claiming the transfer was fraudulent -- an attempt to hide money from legitimate creditors.

The trustee says Lozada used the money to start a Miami shoe store called Dulce, and now the trustee wants the $560k back.

We're told Lozada and Walker insist there was no funny business. He gave her the money to help pay her bills. Sources say Lozada funded Dulce NOT with the $560k, but by selling her engagement ring. And, our sources say, Lozada had no idea Walker was so deep in debt.