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Stormy Daniels' ex-lawyer arrested

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Michael Avenatti, a lawyer who previously represented Stormy Daniels in lawsuits against President Donald Trump, has been arrested.

Avenatti is charged with allegedly attempting to extort up to $25 million from Nike by threatening to make claims public that it paid the families of top high school basketball players.

Separately, he was charged in a Los Angeles federal case with alleged embezzlement and with defrauding a Mississippi bank.

Read more from CNBC.

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