Michael Avenatti Charged with Extortion against Nike, Arrested for Wire Fraud

TMZ | 3/25/2019 | Staff
Click For Photo: https://images.tmz.com/2019/03/25/0325-michael-avenatti-tmz-1200x630.jpg

Michael Avenatti has been arrested and charged with trying to extort $20 million out of Nike.

The feds claim Avenatti told Nike's lawyers if they didn't pay him between $15 million and $25 million he would hold a news conference on the eve of Nike's quarterly earnings call and the start of March Madness and announce allegations of misconduct by employees at the shoe company.

Complaint - Avenatti - Nike - Investigation - Salary

According to the complaint, Avenatti demanded Nike hire him to conduct an internal investigation for the enormous salary.

The U.S. Attorney for the Southern District of New York says Avenatti was representing a client who was the coach of an AAU Youth Club basketball team.

Prosecutors - Avenatti - Nike - Option - Dispute

Prosecutors say Avenatti gave Nike an option ... don't hire him but pay $22.5 million to resolve the dispute and buy his silence.

The complaint says Avenatti claimed the AAU coach had evidence that one or more Nike employees had funded payments to the families of top high school basketball players and attempted to conceal those payments.

Prosecutors - Call - March - Avenatti - Nike

According to prosecutors, there was a call on March 20th between Avenatti and Nike during which Avenatti said, "I'm not f**king around with this, and I'm not continuing to play games ... you guys know enough now to know you've got a serious problem ... So if you guys think that you know, we're gonna negotiate a million five, and you're gonna hire us to do...
(Excerpt) Read more at: TMZ
Wake Up To Breaking News!
Don't panic!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!