GUILTY NY - Michael Avenatti arrested for extortion of millions of dollars from Nike, 2019

[Curious Guy]

Michael Avenatti arrested for trying to extort Nike for up to $25M, SDNY says

 

[BetteDavisEyes]

Michael Avenatti charged with trying to extort $20 million from Nike

Avenatti was arrested in Manhattan and also accused with wire and bank fraud charges in Los Angeles.

 

[human]

Seems like it is a popular activity among the rich and privileged

 

[MorbidGateway]

Good.

 

[Herat]

Well, this is all very interesting, isn't it?

 

[Gardenista]

Here is what he tweeted less than an hour before he was arrested

Michael Avenatti‏Verified account @MichaelAvenatti
Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.

 

[Inthedetails]

The love of money is the root of all evil. Not money itself, but the love of it.

Yuck.

 

[Tighthead]

I don’t mention this in defence of Avenatti, but there is an ongoing scandal/FBI investigation involving college assistant coaches.

He may well have uncovered something scandalous, but tried to shake down Nike, overplaying his hand.

I remember Gloria Allred getting a client paid out when Tiger Woods had his scandal.

Is it extortion if it’s a threat, but legal if you just say “hey my client is issuing a statement tomorrow, call me if you wish to discuss...”?

 

[Herat]

Here is what he tweeted less than an hour before he was arrested

Michael Avenatti‏Verified account @MichaelAvenatti
Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.

Wow. That and the recording the FBI has certainly does sound like extortion

 

[Curious Guy]

I don’t mention this in defence of Avenatti, but there is an ongoing scandal/FBI investigation involving college assistant coaches.

He may well have uncovered something scandalous, but tried to shake down Nike, overplaying his hand.

I remember Gloria Allred getting a client paid out when Tiger Woods had his scandal.

Is it extortion if it’s a threat, but legal if you just say “hey my client is issuing a statement tomorrow, call me if you wish to discuss...”?

Nah, he's busted. The Nike lawyers recorded a phone call with Avenatti extorting with his usual false bravado and bluster. Also just read that Mark Gerragos is being named as a co conspirator.

 

[Gardenista]

Here are the CA charges for bank fraud

California Avenatti Complaint

 

[Tighthead]

Nah, he's busted. The Nike lawyers recorded a phone call with Avenatti extorting with his usual false bravado and bluster. Also just read that Mark Gerragos is being named as a co conspirator.

At no point was I suggesting he didn’t commit extortion.

I was asking for the distinguishing features of Gloria Allred selling silence.

 

[CrimeDawg123]

Here is what he tweeted less than an hour before he was arrested

Michael Avenatti‏Verified account @MichaelAvenatti
Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.

Nah, he's busted. The Nike lawyers recorded a phone call with Avenatti extorting with his usual false bravado and bluster. Also just read that Mark Gerragos is being named as a co conspirator.

I'm really confused here. So was Avenatti going to disclose a scandal at the same time he was trying to get Nike to pay him off not to disclose it? I don't get it.

Is there a scandal? No scandal? Huh?

ETA twitter comments are hilarious!

 

[Inthedetails]

At no point was I suggesting he didn’t commit extortion.

I was asking for the distinguishing features of Gloria Allred selling silence.

Allred was likely advocating aggressively as a representative of her client. She was working on her client's behalf. Sounds like Avenatti was aggressive for his own benefit.

It is ugly all around.

Jmo

 

[Inthedetails]

I'm really confused here. So was Avenatti going to disclose a scandal at the same time he was trying to get Nike to pay him off not to disclose it? I don't get it.

Is there a scandal? No scandal? Huh?

The scandal of college sports does exist. I think Avenatti had more dirt on top of old dirt and he wanted money to be quiet. I think....

Jmo

Edited to add: I think the new dirt was about sports before college - high school and community teams

 

[BayouBelle_LA]

Avenatti’s arrest in Manhattan came just hours after a meeting with Nike lawyers that federal prosecutors recorded as part of a sting operation to capture him trying to extort millions from the company, according to Geoffrey S. Berman, the U.S. attorney for the Southern District of New York.

In a tweet sent shortly before he was arrested, Avenatti had threatened to go public with claims that Nike officials were paying the families of top high school basketball players.

“A suit and tie does not mask the fact that, at its core, this was an old-fashioned shakedown,” Berman said during a news conference in Manhattan on Monday afternoon.

Lawyer Michael Avenatti, accused of fraud and attempts to extort Nike, is arrested

 

[Gardenista]

I'm really confused here. So was Avenatti going to disclose a scandal at the same time he was trying to get Nike to pay him off not to disclose it? I don't get it.

Is there a scandal? No scandal? Huh?

ETA twitter comments are hilarious!

Yes, that's how I understand it. He (and Geragos) tried to extort Nike by saying they would not spill the beans on Nike if Nike paid them millions. So Nike called the Feds.

Oh, and they also threatened to do it right before Nike's earnings announcement so that they would lose money in their market cap

 

[CrimeDawg123]

Stormy Daniels on Twitter

I don't give the industry much thought in general, but I have to say IMO Stormy Daniels has acted fairly respectably during this whole crazy debacle.

 

[Herat]

Here are the CA charges for bank fraud

California Avenatti Complaint

Wow. He didnt file or pay any taxes in 2011, 2012, 2013 and yet he sent fake tax documents to a Mississippi company for multiple loans.

What a mess.

 

[Herat]

Stormy Daniels on Twitter

I don't give the industry much thought in general, but I have to say IMO Stormy Daniels has acted fairly respectably during this whole crazy debacle.

The more I read about "Stormy Daniels" the more I am impressed with her smarts.