Your favorite TV lawyer has been busted! Michael Avenatti has been arrested and charged by federal prosecutors with extortion, bank fraud, and wire fraud… it’s really bad.
Sportswear giant Nike claims Avenatti demanded they pay him between $15 – 22.5 million, due TODAY, or else he would go public with allegations of wrongdoing by Nike employees.
Apparently he has a client with evidence that Nike employees were paying off high school hoop stars and their families.
What’s worse… TMZ is reporting he stole over a million dollars from a client. He also obtained a fraudulent loan from a Mississippi bank for $4.1 million with bad documents – all to support his fancy life and a coffee business in California.
Extortion may be a matter of nuance, but the other charges, not so much. The silver-tongued legal ace probably won’t be able to talk his way out of this one. Bank fraud and wire fraud usually amount to paperwork evidence – either he did or he didn’t.
We’ll be following the happenings with this one, and bring it to you when we know more.
Until the next time it drips….