Federal prosecutors in New York and California announced charges against Michael Avenatti on Monday in separate cases targeting the former personal attorney for adult film actress Stormy Daniels.
Avenatti, who was arrested in New York City on Monday morning, stands accused of attempting to extort Nike for $20 million and faces additional charges of bank- and tax-fraud.
In a phone call with lawyers for Nike last week, Avenatti and the unnamed co-conspirator allegedly said if those demands were not met, "I'll go take $10 billion dollars off your client's market cap. I'm not f***ing around," according to the criminal complaint. "At its core, this was an old-fashioned shake-down," U.S. Attorney for the Southern District of New York Geoffrey Berman said at a press conference on Monday.
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