Michael Avenatti was indicted Monday by federal prosecutors in New York and Los Angeles in connection with a spate of financial crimes.
Prosecutors in the Southern District of New York accused Avenatti, who formerly represented pornographer Stormy Daniels, of trying to extort Nike by threatening to release damaging information if they didn’t pay hime a large sum.
Avenatti worked "to extract more than $20 million in payments from a publicly traded company by threatening to use his ability to garner publicity to inflict substantial financial and reputational harm on the company if his demands were not met," according to SDNY prosecutors.
The charges were announced minutes after Avenatti announced he would host a Tuesday press conference to reveal "a major high school/college basketball scandal" perpetrated by Nike.
The celebrity attorney was also indicted in Los Angeles on charges that he embezzled funds from his clients to cover his own expenses.
Prosecutors will provide further information about the charges at a Monday afternoon press conference.
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