#BASTA: Michael Avenatti to be charged with trying to extort Nike for up to $25M, SDNY says

Michael Avenatti, porn star Stormy Daniels’ former lawyer who briefly considered a bid for president, is set to be charged Monday for allegedly trying to extort Nike for $15-$25 million, officials at the U.S. District Court for the Southern District of New York said.

A criminal complaint against Avenatti says he “devised a scheme to extort a company by means of an interstate communication by threatening to damage the company’s reputation if the company did not agree to make multi-million dollar payments to Avenatti and [co-conspirator], and further agree to pay an additional $1.5 million to a client of Avenatti’s.”

The complaint says that last Wednesday, Avenatti and a cooperating witness spoke by phone with lawyers for Nike “during which Avenatti stated, with respect to his demands for payment of milions of dollars, that if those demands were not met ‘I’ll go take ten billion dollars off your client’s market cap … I’m not f—ing around.'”

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