The Trump curse strikes again!

Michael Avenatti was arrested and is being charged with wire and bank fraud, federal prosecutors said Monday.

Avenatti was arrested in New York on federal extortion charges, Nicolas Biase, with the United States Attorney’s Office, Southern District of New York told The Hollywood Reporter.

CNBC reported:

TRENDING: BREAKING: Senate Finance and Homeland Security Committees Release DEVASTATING Report on Hunter Biden, Burisma and Corruption -- CROOKED BIDEN FAMILY ENRICHED THEMSELVES AND OBAMA KNEW!

Celebrity lawyer Michael Avenatti has been arrested on charges related to an alleged $20 million extortion of the athletic apparel company Nike, federal authorities said Monday. A press conference is scheduled to discuss the charges against Avenatti in Los Angeles on Monday afternoon. Avenatti is due to be presented in federal court on Monday. The charges were revealed less than an hour after Avenatti announced a press conference to discuss purported claims against Nike. An FBI agent said in the complaint that the lawyer had threatened to hold a press conference on the eve of Nike’s quarterly earnings call to announced “allegations of misconduct by employees of Nike.” 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. — Michael Avenatti (@MichaelAvenatti) March 25, 2019 A criminal complaint against Avenatti says he “devised a scheme to extort a company by means of an interstate communication by threatening to damage the company’s reputation if the company did not agree to make multi-million dollar payments to Avenatti and [co-conspirator], and further agree to pay an additional $1.5 million to a client of Avenatti’s.” The complaint says that last Wednesday, Avenatti and a cooperating witness spoke by phone with lawyers for Nike “during which Avenatti stated, with respect to his demands for payment of millions of dollars, that if those demands were not met ‘I’ll go take ten billion dollars off your client’s market cap … I’m not f—ing around.’ ”

Michael Avenatti, dubbed the ‘Creepy Porn Lawyer’ for representing porn star Stormy Daniels, has been in a downward spiral professionally and financially in the last several months.

Avenatti is no longer representing Stephanie Clifford AKA Stormy Daniels, but he left her with a hefty $293,052 judgment.

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