Celebrity attorney Michael Avenatti has been charged with bank fraud and extortion in an alleged blackmail plot against Nike. Reports from CNBC suggest that Avenatti was threatening to publicizing claims that multiple Nike employees has been paying the families of top high school basketball players. In addition, Avenatti has been charged in a second case out in Los Angeles, California. In this case, Avenatti has been accused of embezzling a clients money in order to pay his own expenses. Furthermore, prosecutors have accused the celebrity attorney of defrauding a bank down in Mississippi. If convicted, Avenatti could be sentenced up to 100 years in prison.
Avenatti was set to be released from custody earlier today when he signed a $300,000 personal recognizance bond. Through this method, Avenatti is not required to post actual money. However, her would be forced to turnover property or money in the amount of $300,000 if he doesn’t appear in court when requested. In addition to the terms of his bond, Avenatti has been forced to turn over his passports and he has been restricted to travelling only to New York and Los Angeles.
Avenatti is set to appear in court in Los Angeles on April 1st.