Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Michael Avenatti ordered to pay $148,750 in restitution to Stormy Daniels

Published 09/23/2022, 02:16 PM
Updated 09/23/2022, 02:21 PM
© Reuters. FILE PHOTO - Former attorney Michael Avenatti speaks to the press after the guilty verdict in his criminal trial, at the United States Courthouse in the Manhattan borough of New York City, U.S., February 4, 2022. REUTERS/Brendan McDermid

By Luc Cohen

NEW YORK (Reuters) - Michael Avenatti, the brash celebrity lawyer who rose to fame taking on Donald Trump before a slew of criminal charges destroyed his legal career, was ordered on Friday to pay $148,750 in restitution to his best-known client, porn actress Stormy Daniels.

Avenatti, 51, was convicted by a Manhattan federal jury in February of wire fraud and aggravated identity theft for embezzling $297,500 in book proceeds from Daniels, who testified that Avenatti "stole from me and lied to me."

U.S. District Judge Jesse Furman in June sentenced Avenatti to four years in prison, calling his conduct "brazen and egregious."

The sentence also required Avenatti to forfeit the $297,500, but the restitution is lower because he repaid some of the money to Daniels, whose real name is Stephanie Clifford. Avenatti is appealing the conviction and sentence.

Daniels is known for receiving $130,000 from Trump's former personal lawyer and fixer Michael Cohen before the 2016 presidential election in exchange for keeping quiet about an affair she claimed to have had with the future U.S. president, which he denied.

Avenatti successfully freed Daniels from a non-disclosure agreement with Trump, paving the way for her 2018 memoir "Full Disclosure," where she described the alleged liaison.

Lawyers for Avenatti and Daniels did not immediately respond to requests for comment.

Before the trial, Avenatti had already been serving a 2-1/2 year sentence after being convicted in 2020 of trying to extort millions of dollars from Nike Inc (NYSE:NKE).

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Avenatti was also ordered to pay $259,800.50 in restitution to Nike, but the athletic wear company agreed that his individual victims could get paid first.

Parts of the prison sentences run concurrently, and Avenatti is expected to serve a total of five years behind bars.

He also faces a scheduled Nov. 7 sentencing in California after pleading guilty in June to five federal charges there, including four counts of wire fraud for defrauding clients.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.