Michael Avenatti Charged with Extortion Against Nike, Released on Bond

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6:13 PM PT — Avenatti just held a brief press conference, saying, “I have fought against the powerful — powerful people and powerful corporations — I will never stop fighting that good fight.” He added he’s “highly confident” he’ll be “fully exonerated.”

4:33 PM PT — Avenatti has just been released on a $300,000 bond. He didn’t have to pay that amount, but it had to be co-signed by 2 people who say they’re good for it.

While he’s out on bond, his travel will be restricted to New York and California … and all travel plans must be approved by the government. Avenatti is also barred from contacting Mark Geragos.

2:53 PM PT — Avenatti’s indictment will NOT have any major impact on the pending R. Kelly criminal case, in which he reps the family of Azriel Clary … so says Gerald Griggs, who represents Joycelyn Savage’s family. Griggs tells TMZ … that while Avenatti’s criminal cases present problems for himself personally, Griggs says they’ll have “minimal” effect in the R. Kelly matter. He adds, “[T]he ten charges are based on four independent accusers and other information independent of Mr. Avenatti. The Savage family continues to seek reunification with their daughter, and that process of justice continues on course for all the alleged victims of Robert Sylvester Kelly.”

1:15 PM PT — The Nike indictment says Avenatti had an unnamed co-conspirator, and we’ve confirmed reports it is famed attorney Mark Geragos.

12:08 PM PT — Nike just broke its silence following the news conferences … saying it “will not be extorted or hide information that is relevant to a government investigation. Nike has been cooperating with the government’s investigation into NCAA basketball for over a year.”

The shoe giant goes on to say, “When Nike became aware of this matter, Nike immediately reported it to federal prosecutors. When Mr. Avenatti attempted to extort Nike over this matter, Nike with the assistance of outside counsel at Boies Schiller Flexner, aided the investigation.”

“Nike firmly believes in ethical and fair play, both in business and sports, and will continue to assist the prosecutors.”

If you recognize the law firm — Boies Schiller Flexner — the “Boies” is David Boies, the famous high-powered lawyer who’s represented everyone from Al Gore to Harvey Weinstein.

In fact, Boies was also heavily involved with Theranos — the blood testing company — and was featured in the HBO documentary “The Inventor: Out for Blood in Silicon Valley.”

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