BREAKING: U.S. Attorney Charges Avenatti With Extortion
Less than an hour before his arrest, Avenatti tweeted, “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.” Shortly after Avenatti’s announcement, CNBC reported that Nike’s shares had dropped to a “session” low.
One of Avenatti’s frequent rivals on Twitter, Donald Trump Jr., said in response to the news of the lawyer’s arrest, “Hey @MichaelAvenatti – It looks like you’ll be the one spending time behind bars after all.”
The Manhattan U.S. Attorney's office explained that Avenatti threatened "to use his ability to garner publicity to inflict substantial financial and reputational harm on the company if his demands were not met."
This story is developing. Stay with American Action News for the latest updates.