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re: Avenatti: major Nike CBB scandal to be announced UPDATE: Avenatti charged w extortion
Posted on 3/25/19 at 12:03 pm to I Bleed Garnet
Posted on 3/25/19 at 12:03 pm to I Bleed Garnet
quote:
So basically what we saw for Adidas...
But with Nike schools
and there are a lot more Nike schools. This will get very interesting.
1
Posted on 3/25/19 at 12:04 pm to beaver
quote:
@MichaelAvenatti
Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.
First of all who is we, and why would you announce a Nike scandal? Oh wait, I get it, you already tried to get Nike to pay you and they told you to go frick off.
Oh this will be great. Nike vs creepy porn lawyer. I don't know which one is the biggest scumbag. And if some coaches can get their arse in a ringer too, all the better.
Posted on 3/25/19 at 12:04 pm to beaver
lol Avenatti has promptly been charged with a crime
@stevenportnoy
1m
JUST IN: Federal prosecutors announce charges against @MichaelAvenatti, alleging he tried to extort Nike, threatening to release damaging about the company, if Nike didn't agree to pay millions to him and a client.
@stevenportnoy
1m
JUST IN: Federal prosecutors announce charges against @MichaelAvenatti, alleging he tried to extort Nike, threatening to release damaging about the company, if Nike didn't agree to pay millions to him and a client.
Posted on 3/25/19 at 12:05 pm to MrAUTigers
quote:
This will get very interesting.
Or more likely this will be a huge nothing burger, because Michael Avanetti.
That guy is the PT Barnum of clown shows.
This post was edited on 3/25/19 at 12:06 pm
Posted on 3/25/19 at 12:06 pm to beaver
Ah well, that was fun
Posted on 3/25/19 at 12:06 pm to beaver
Thank goodness we are and UA school. All our players might have foot problems, but no sign of corruption for buying players by the company.
Posted on 3/25/19 at 12:07 pm to beaver
quote:
JUST IN: Federal prosecutors announce charges against @MichaelAvenatti, alleging he tried to extort Nike, threatening to release damaging about the compan
I figured Nike would sue Avenatti but this is way more juicy with the feds slamming him with charges.
Posted on 3/25/19 at 12:10 pm to beaver
@Tom_Winter:
quote:
BREAKING NEWS: Michael Avenatti has been arrested and charged for attempting to extract more than $20 million in payments from Nike by threatening to use his ability to garner publicity to inflict substantial financial and reputational harm.
Posted on 3/25/19 at 12:13 pm to beaver
I called it. 
What a dumb arse
What a dumb arse
Posted on 3/25/19 at 12:17 pm to lsufball19
Money is his claim (he is broke and trying to make more). He's had 100 hours of TV time if not more so his face is recognizable. Stakeholders in Adidas could have hired him or tipped him off. If you want to go the conspiracty theory route considering Kim Jong and Rodman are friends this could be an attempt to tie Trump to a Nike scandal, because he only wears the very best hi-tops Nike hi-tops because they are very good the best i must say the very best at making Hi-tops. Nike that is.
Posted on 3/25/19 at 12:27 pm to beaver
This thread relates to SEC basketball schools. Why was it moved? admins losing their minds.
Posted on 3/25/19 at 1:15 pm to FightingTigers138
quote:
The California resident Avenatti, 48, was busted in Midtown Manhattan at 12:30 p.m. by FBI agents, about 15 minutes after he tweeted that he would be disclosing a big high school and college basketball scandal “perpetrated by” Nike that he supposedly had uncovered.
also has this going on
quote:
In the Los Angeles federal case, Avenatti is accused in a 197-page complaint of negotiating a $1.6 million settlement for a client in a civil case, but then giving the client “a bogus settlement agreement with a false payment date of March 10, 2018,” according to the U.S. Attorney’s Office in Los Angeles.
That office said “Avenatti misappropriated his client’s settlement money and used it to pay expenses for his coffee business, Global Baristas US LLC, which operated Tully’s Coffee stores in California and Washington state, as well as for his own expenses.:
“When the fake March 2018 deadline passed and the client asked where the money was, Avenatti continued to conceal that the payment had already been received, court documents said,” according to prosecutors.
“A lawyer has a basic duty not to steal from his client,” said U.S. Attorney for Los Angeles Nick Hanna.
quote:
“The phony returns stated that he earned $4,562,881 in adjusted gross income in 2011, $5,423,099 in 2012, and $4,082,803 in 2013 ... Avenatti allegedly also claimed he paid $1.6 million in estimated tax payments to the IRS in 2012 and paid $1.25 million in 2013.”
“In reality, Avenatti never filed personal income tax returns for 2011, 2012 and 2013 and did not make any estimated tax payments in 2012 and 2013,” Hanna’s office said.
“Instead of the millions of dollars he claimed to have paid in taxes, Avenatti still owed the IRS $850,438 in unpaid personal income tax plus interest and penalties for the tax years 2009 and 2010. Avenatti also submitted a fictitious partnership tax return for his law firm.”
Posted on 3/25/19 at 1:15 pm to I Bleed Garnet
quote:
So basically what we saw for Adidas...
But with Nike schools
Yup.
Even though Avenatti is a total sleazebag who deserves whatever he gets from the Feds, this is what Dan Wetzel et al at Yahoo concluded their reporting with today:
quote:
While Avenatti is facing serious legal issues here, for college basketball, the information that he may hold remains intriguing. The federal fraud case into the sport has shown an underground economy that features payments to college players and their families, often funded by shoe companies. Most of the public testimony and evidence has dealt with Adidas, where longtime executive James Gatto and consultant Merl Code were both convicted.
However, no one in the sport believes this practice doesn’t extend to other shoe companies. Code, himself, was a longtime Nike employee before working with Adidas. Nike is the most prominent sponsor in the sport and has exclusive deals with numerous top basketball programs including Duke, North Carolina and Kentucky.
LINK
This post was edited on 3/25/19 at 1:16 pm
Posted on 3/25/19 at 1:51 pm to BrerTiger
quote:Wheres the furious LSU fans that they didn't make the list?
. Nike is the most prominent sponsor in the sport and has exclusive deals with numerous top basketball programs including Duke, North Carolina and Kentucky.
Posted on 3/25/19 at 3:25 pm to beaver
Except there is nothing here.
Posted on 3/25/19 at 5:27 pm to beaver
Kentucky wildcats come on down!
You are the next contestant on Guess the Number of Felony Warrants!
You are the next contestant on Guess the Number of Felony Warrants!
Posted on 3/25/19 at 6:42 pm to NYCAuburn
quote:
“Avenatti misappropriated his client’s settlement money and used it to pay expenses for his coffee business, Global Baristas US LLC, which operated Tully’s Coffee stores in California and Washington state, as well as for his own expenses.:
Welp, that's one sure way to get yourself disbarred.
quote:
giving the client “a bogus settlement agreement with a false payment date of March 10, 2018,”
Damn, when you throw in this fraud on top of extortion and tax fraud charges, this dumbass is going to spend a LONG time in jail.
I wonder if it will hurt his chances in the primaries?
This post was edited on 3/25/19 at 6:44 pm
Posted on 3/25/19 at 6:59 pm to Evolved Simian
His co-defendent is another sleaze celebrity lawyer. The guy representing Claire Bronfman and Jussie Smollett. They're shaking folks down to raise money for their other legal woes. 
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