First, it was accusations of domestic abuse, then it was accusations of having very sticky fingers with his firm’s money. Now New York federal prosecutors are announcing extortion charges against famed attorney Michael Avenatti for threatening Nike. According to U.S. Attorney Geoff Berman, Avenatti's actions were nothing more than an "old-fashioned shakedown."
- Prosecutors charge that “suggested” Nike pay him to conduct an internal investigation about rumors that company employees authorized payments to the families of top high school basketball players. He allegedly said he’d remain quiet as to the truth of the matter. When he took to Twitter yesterday to say that he was about to drop a bomb on Nike…the Feds dropped in on him.
- But there’s more! Avenatti has also been charged in Los Angeles for embezzling money from one of his clients. Prosecutors say that he absconded with client’s money “in order to pay his own expenses and debts” and those of his law firm and coffee company, and of “defrauding a bank in Mississippi.”
If convicted in both cases, Avenatti faces 100 years in prison in addition to losing his license to practice law. For his part, Avenatti is confident that he’ll be “fully exonerated.” “For the entirety of my career, I have fought against the powerful — powerful people and powerful corporations,” Avenatti told reporters. “I will never stop fighting that good fight.”
- An interesting side note? It’s been confirmed that Avenatti's alleged unnamed co-conspirator in his Nike extortion case celebrity lawyer Mark Geragos. As you might recall, Geragos has represented Chris Brown,Roger Clinton,Michael Jackson, Winona Ryder and he is currently representing actor Jussie Smollett, who is being prosecuted by Chicago authorities for lying to police about an alleged racial attack. What we don’t know? If Geragos will be charged or if he’s cooperating with prosecutors.
Source:CNBC