Michael Avenatti has been charged with attempting to extort Nike out of millions of dollars, according to federal prosecutors.
The lawyer, who famously represented porn star Stormy Daniels in her fight against President Trump, was taken into custody by the FBI in midtown Manhattan just after noon on Monday, a spokesperson for the FBI told NBC New York.
Avenatti allegedly threatened to release damaging information about Nike if it did not meet his demands, Bloomberg News reported.
The arrest came just after Avenatti revealed plans on Twitter to discuss allegations of a "major high school/college basketball scandal" perpetuated by Nike at a press conference Tuesday.
According to the criminal complaint against Avenatti, he allegedly "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."