Avenatti ‘Saw Dollar Signs’ in Greedy Nike Extortion, Lawyers Say
Embattled lawyer Michael Avenatti, who’s on trial for allegedly extorting Nike, “saw dollar signs” and wanted to pay off his own debts when he attempted to shake down the company for tens of millions of dollars, federal prosecutors said Wednesday.
During opening arguments, assistant U.S. Attorney Robert Sobelman told the jury that Avenatti “betrayed” his client, youth basketball coach Gary Franklin, by threatening to publicize intel Franklin provided on the corporation’s alleged illegal payouts to his players. Sobelman said Avenatti was prepared to use a “modern weapon” to harm Nike: his social media following and then-ubiquitous TV appearances.
Avenatti was ready to trade “money for silence, and he did it without considering what Franklin wanted,” Sobelman said. Avenatti “would not just let Nike settle with Franklin,” the prosecutor added, but wanted the company to hire him to conduct an internal investigation for up to $25 million and demanded “$12 million right away.”