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Avenatti arrested on fraud, extortion charges

Attorney Michael Avenatti was arrested Monday and is facing federal charges in New York and LA of bank fraud, misappropriating client funds, and trying to extort millions of dollars from Nike, according to federal prosecutors. U.S. New York District Attorney Geoffrey Berman said Avenatti threaned Nike with "cut, after cut, after cut, after cut" if it did not make payments to Avenatti. Rough Cut (no reporter narration).
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