Avenatti Told Nike Lawyers He Would ‘Make It Hurt’ + More Claims From Extortion Trial Closing Arguments
Closing arguments in Michael Avenatti’s Nike extortion case were heard in New York’s Southern District court on Tuesday — and federal prosecutors attempted to persuade jurors by replaying an audio tape.
In the recording, taken at a March 2019 meeting, the embattled attorney can be heard telling Nike lawyers: “A few million dollars doesn’t move the needle for me. I’ll go take $10 billion dollars off your market cap.”
Prosecutors claim that Avenatti attempted to extort more than $20 million from the Beaverton, Ore.-based athletic brand in exchange for not publicizing its alleged illicit payments to student athletes. Avenatti, who rose to fame representing adult film star Stormy Daniels in a suit against President Donald Trump, currently faces three counts related to his purported extortion attempt: intent to extort, violation of the Hobbs Act (which criminalizes extortion) and honest service wire fraud. The celebrity lawyer has pled not guilty to all charges.
Prosecution: ‘That is what extortion sounds like’
After replaying the recording from the March 2019 meeting, Assistant U.S. Attorney Matthew Podolsky told jurors, “That is what extortion sounds like.”
“That is Michael Avenatti telling Nike lawyers that Nike has to pay him. Why? Because if they don’t he is going to make it hurt,” Podolsky continued.
In March 2019, Avenatti was arrested 15 minutes after he tweeted a plan to reveal The Swoosh’s alleged payments to student athletes. The tweet was made just days ahead of the start of the NCAA men’s basketball tournament and also came shortly before Nike released its third-quarter earnings report.
Defense: Avenatti wanted to ‘Just Do It’ for his client
Borrowing Nike’s decades-long slogan, defense attorney Howard Srebnick said that Avenatti wanted to “‘Just Do It” for his client, Gary Franklin, a coach in the athletic powerhouse’s grassroots basketball league. Srebnick claimed that Avenatti did exactly what he was hired by Franklin to do: “to clean up elite basketball and find out how high up the corruption goes.”
“This was exactly what the client wanted. He acted in good faith: Not guilty,” Srebnick told jurors, reminding them of texts and emails allegedly exchanged between Franklin and an advisor. In the texts, Franklin and the advisor allegedly claimed they wanted to “go after Nike” and “expose misconduct,” according to Srebnick.
https://footwearnews.com/2020/business/legal-news/avenatti-nike-extortion-trial-closing-arguments-1202924722/