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5 of the Most Explosive Details From the Michael Avenatti-Nike Extortion Case

Federal prosecutors in Manhattan today brought charges against famed attorney Michael Avenatti for allegedly attempting to extort upwards of $20 million from Nike Inc.
In the complaint, filed in the Southern District of New York, prosecutors said Avenatti threatened to shave billions off of Nike’s market cap by releasing damning allegations against the firm if it did not agree to pay him and a co-conspirator more than $22 million. Avenatti also demanded that Nike pay a client he purported to represent — described in the complaint as an Amateur Athletic Union men’s basketball coach claiming to have damaging information against the brand — $1.5 million to secure his/her silence.
“As alleged, Michael Avenatti approached Nike last week with a list of financial demands in exchange for covering up allegations of misconduct on behalf of the company,” FBI Assistant Director in Charge William F. Sweeney Jr. said today. “In the event anyone needs to be reminded, this type of behavior is illegal and it will not be tolerated — especially when committed by a lawyer who is supposed to use his license to practice law, not to willfully violate it.”
Here, five explosive allegations in the complaint.
Avenatti Threatened to Release Information in Tandem With

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Via:: https://footwearnews.com/2019/business/legal-news/michael-avenatti-nike-extortion-scandal-details-allegations-1202764390/