A Manhattan federal jury found Michael Avenatti guilty of single counts of wire fraud and aggravated identity theft in connection to his pocketing nearly $300,000 of Stormy Daniels’ advance for her memoir. He now faces up to 22 years in prison.
when he swindled Daniels and used her funds to make monthly payments on a Ferrari and pay his ex-wife, his girlfriend, and employees of his law firm.
For his part, Avenatti is adamant he was owed proceeds from Daniels’ book because of the “millions” in legal work he did for her throughout 2018. “The government presented no evidence of what a reasonable percentage would be,” Avenatti said. “They want you to determine a reasonable percentage is zero.”
Prosecutors say Avenatti snatched her second payment of almost $150,000 and spent it on expenses for himself and his firm before repaying her in part with the $250,000 loan from Geragos. Avenatti used a cashier’s check to pay Daniels and claim the funds came from the publisher, St. Martin’s Press, which he claimed mailed the check to his office.
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