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Prosecutors: Deeply-in-debt Michael Avenatti sought payday

Prosecutors say high-profile California attorney Michael Avenatti was over $15 million in debt when he tried to extort  up to $25 million from Nike, while Avenatti’s lawyers say the money he legally requested to conduct an internal probe of the sportswear giant was a bargain. Both sides made the assertions in court papers filed late Tuesday in advance of a Jan. 22 criminal trial in Manhattan.

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