Michael Avenatti arrested over alleged $20 million extortion of Nike

Chicago Illinois. Kelly was being held after turning himself in to face ten counts of aggravated sexual abuse

The person spoke on condition of anonymity because the information was not made public by prosecutors. Although the co-conspirator wasn't formally named, the Wall Street Journal reports that it was Mark Geragos, who represented Nike endorser Colin Kaepernick in a grievance suit against the NFL.

Geragos didn't respond to messages seeking comment. This comes hours after he said he was planning a press conference regarding an NCAA and Nike basketball scandal.

Minutes after the arrest, Donald Trump Jr. celebrated the announcement in a tweet that said: "Good news for my friend @MichaelAvenatti, if you plead fast enough, you might just get to share a cell with Michael Cohen!"

According to the NY complaint, Avenatti, 48, threatened that he'd release damaging information about Nike right before its earnings call, unless the athletics giant paid him and a co-conspirator $15 to $20 million. "And I'm not continuing to play games".

Avenatti also is charged in Los Angeles with bank and wire fraud. When the fake March 2018 deadline passed and the client asked where the money was, Avenatti continued to hide that the payment had already been received, court documents said.

Federal prosecutors in NY say their investigation of the firebrand attorney Michael Avenatti began only last week and was complete in days.

Michael Avenatti has been arrested and accused of four counts of wire and bank fraud by the U.S. Attorney's office for the Southern District of NY.

Nike officials told investigators that Avenatti claimed to know of rules violations by an amateur basketball team sponsored by Nike. In California, prosecutors say he stole a client's US$1.6 million settlement and used it to cover expenses.

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Avenatti was to appear in court in New York City before Magistrate Judge Katharine H. Parker. "When Nike became aware of this matter, Nike immediately reported it to federal prosecutors".

The extortion charge is separate from another federal case out of Los Angeles, where he is accused of embezzling a client's money "in order to pay his own expense and debts" and of "defrauding a bank in MS", prosecutors said.

Prosecutors in Los Angeles are scheduled to hold a press conference later on Monday.

In the California case, he allegedly misused a client's money to pay his debts and those of his coffee business and law firm. He even considered running for President in 2020.

Ms Daniels released a statement on Twitter regarding Mr Avenatti, saying she was "saddened but not shocked" at the news.

Avenatti rose to fame when he represented porn star Stormy Daniels, which led to CNN and MSNBC featuring him on their networks over 200 times. She said she wouldn't elaborate.

At one point Avenatti asks Nike's lawyer whether he has ever "held the balls of the client in your hand where you could take five to six billion dollars market cap off of them"?

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