Michael Avenatti has been convicted of extorting Nike and now faces up to 8 years in prison.
According to Fox News:
Federal prosecutors are seeking an eight-year prison sentence for disgraced attorney Michael Avenatti in his attempted extortion case, and that’s not even close to the end of the legal troubles for the former media darling.
The spectacular downfall of Avenatti from possible Democratic presidential candidate – CNN’s Brian Stelter memorably told Avenatti he took him seriously as a White House contender because of his cable news presence – to convicted felon is yet another in a series of stinging media embarrassments in recent years.
Avenatti was convicted last year of trying to extort up to $25 million from Nike by threatening to go public with corruption allegations at the athletic apparel company and cause billions of dollars in valuation losses.
“The defendant, a prominent attorney and media personality with a large public following, betrayed his client and sought to enrich himself by weaponizing his public profile in an attempt to extort a publicly-traded company out of tens of millions of dollars. This was an egregious abuse of trust, and it warrants real and serious punishment,” prosecutors wrote in their court filing, according to the Associated Press.
Avenatti will also face trial for charges related to him defrauding his clients out of millions of dollars. This practice will also take him to trial next year on allegations he defrauded Stormy Daniels out of more than $300,000.