Nike Responded To Michael Avenetti’s Attempt To Extort Them Over A Basketball Scandal

03.25.19 3 months ago

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Lawyer Michael Avenatti, best known for his work representing Stormy Daniels against president Donald Trump, is facing federal charges over an attempt to extort Nike recently.

Avenatti allegedly tried to get more than $20 million from Nike after he threatened to go public with information he claimed to have about a high school and college basketball scandal. Nike contacted federal authorities and later contacted Avenatti by phone, catching him saying if he didn’t receive that payment he would “take ten billion dollars off your client’s market cap.”

Avenatti is now facing wire fraud charges and later on Monday, Nike released a statement confirming they contacted authorities, assisted in the investigation into Avenatti’s extortion attempt, and that they have been cooperating with the government’s investigation into college basketball for more than a year.

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