Michael Avenatti arrested over alleged $20 million extortion of Nike

Michael Avenatti Accused of Attempting to Extort Nike for Millions Just blew it.  Nike basketball

Michael Avenatti Accused of Attempting to Extort Nike for Millions Just blew it. Nike basketball

Hanna added: "Avenatti also allegedly defrauded a bank in MS by submitting to the lender false tax returns in order to obtain three loans totaling $4.1 million for his law firm and coffee business in 2014".

Then we learned Avenatti will face federal extortion charges.

By December, however, Avenatti's presidential exertions had run their course, as some of the novelty wore off and other, more credible candidates began ramping up their efforts.

The U.S. Attorney's offices in NY and Los Angeles separately filed charges against Avenatti, with the California case accusing him of embezzling a client's money to cover his own debts, as well as using phony tax returns to obtain millions of dollars in loans from a bank.

Michael Avenatti, the attorney best known for representing porn star Stormy Daniels, has been charged by federal prosecutors with attempting to extort millions of dollars out of Nike.

The complaint said Avenatti threatened to hold a news conference on the eve of Nike's quarterly earnings call and the start of the NCAA tournament to announce allegations of misconduct by Nike employees.

Attorney Michael Avenatti charged with extortion by federal prosecutors in New York

In New York, he was accused of threatening to use his ability to get publicity to harm Nike.

He later noted: 'I'm not f***ing around'.

Reacting to the arrest, Daniels said in a statement she is "not shocked", accusing her former attorney of acting "extremely dishonestly" with her.

"This Avenatti news is icing on the cake for President Trump's week", tweeted CNN White House correspondent Abby Phillips.

"It looks like you'll be the one spending time behind bars after all", Trump Jr. tweeted, adding Avenatti's signature catchphrase, "#basta".

Avenatti ended months of speculation in December 2018 when he announced that he would not seek the Democratic nomination to be president of the United States.

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