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Disgraced lawyer Michael Avenatti found guilty in Nike extortion trial

CNBC logoCNBC 5 days ago Dan Mangan
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Disgraced lawyer Michael Avenatti was convicted Friday by a jury of all three charges related to his efforts to extort up to $25 million from athletic apparel giant Nike.

The verdict in U.S. District Court in Manhattan came two years after Avenatti gained widespread notoriety for his representation of porn star Stormy Daniels in her legal disputes with President Donald Trump.

Avenatti was accused in the Nike case of trying to shake down the company by threatening to expose alleged evidence of bribing amateur basketball players and their families unless the company paid up.

The bombastic attorney, who was ordered jailed last month for alleged violations of his release bond, faces upcoming trials in two other federal criminal cases.

One of those cases, in New York, is for charges that he swindled Daniels out of $300,000 in proceeds for a book she wrote.

Michael Avenatti wearing a suit and tie: Celebrity attorney Michael Avenatti walks out of a New York court house after a hearing in a case where he is accused of stealing $300,000 from a former client, adult-film actress Stormy Daniels on July 23, 2019 in New York City. © Provided by CNBC Celebrity attorney Michael Avenatti walks out of a New York court house after a hearing in a case where he is accused of stealing $300,000 from a former client, adult-film actress Stormy Daniels on July 23, 2019 in New York City.

The other pending case, in California, is on charges of defrauding other clients out of millions of dollars, and tax crimes.

This is a breaking news story. Check back for updates.

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