Nike shares zigzag after Avenatti tweet of scandal is followed by Avenatti’s arrest
Avenatti is facing charges from New York and California prosecutors with news conferences to start shortly
S E E D E D C O N T E N T
Just moments later, court reporters tweeted that federal prosecutors were preparing charges against Avenatti alleging he had tried to extort Nike by threatening to release damaging information unless they agreed to pay him and a client millions of dollar.
The U.S. Attorney General for the Southern District of New York then said it would hold a press conference at 2.30 p.m. Eastern to announce those charges.
It was then the turn of the U.S. Attorney for the Central District of California to join in the melee with the news that it had arrested Avenatti over allegations he embezzled a client’s money in order to pay his own expenses and debts and also defrauded a bank by using phony tax returns to obtain millions of dollars in loans. Avenatti is facing up to 50 years in prison on those charges, said the U.S. Attorney.
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Beware, the long arm of the law, from the SDNY to the SDCA, US Attorney's office.
Federal extortion, wire fraud & racketeering......currently live on CNN.
He is in big trouble, biggly.
All goes back to Tully coffee, smh.
Fake tax returns, fake net worth statements, not telling his client about a settlement, instead using that settlement to pay Avennatti's own expenses
Now the IRS wants taxes due on the phony tax returns, with fines and penalties.
He is the perfect candidate to run against Trump. Democrats deserve the right to vote for a blowhard crook too.
He will be a lot of fun as he attacks Trump with total gusto. A match made in heaven.
thanks for the giggle
The IRS investigation dates back to 2015 surrounding unpaid employee taxes
and just too many fraudulent financial documents to describe.
In comparison, Avenatti started "negotiating" with Nike on March 19, last week, and was arrested today.
That is fast and definitely a weak case for SDNY.
The California case is straightforward fraud.
Avenatti was out of money and air time.
Had Nike played ball, Avenatti would likely have paid up with the IRS and his past clients and possibly ridden off into the sunset.
But Nike held firm.
Game over.
Seems silly now.
Well, he has the same dismal, moral ethics as the current "president".
Avenatti is younger and probably smarter, hell, he should run !
Anybody can be president !!! Whoo hoo !
NIKE (NKE ) gained 1.36% today.
Creepy Porn Lawyer arrested? I have to watcher Tucker Carlson tonight and get my news comedy fix.
No doubt, some will have a field day with this. a well deserved field day.
Avenatti. One by one those who stood against Trump will get their come uppance.