JUST IN: Attorney Michael Avenatti charged with extortion
Federal prosecutors in Manhattan on Monday charged lawyer Michael Avenatti for attempting to extort more than $20 million from Nike.
According to the criminal complaint, Avenatti met in March 2019 with attorney for Nike and threatened to release damaging information about the company if Nike didn't make millions in payment to himself and an unnamed co-conspirator. Avenatti also allegedly demanded that Nike pay $1.5 million to an individual he claimed to represent."I'll go take $10 billion dollars off your client's market cap...I'm not f***ing around," Avenatti said, according to the complaint.
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