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, in what a top prosecutor called “an old-fashioned shakedown.”
Avenatti, 48, was accused in the Nike case of trying to shake down the publicly traded company by threatening to go public with alleged evidence that the company had bribed amateur basketball players and their families unless Nike paid him millions of dollars. Avenatti warned Nike’s attorney that the claims could “take 10 billion dollars off your client’s” stock market capitalization.
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