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IPFS News Link • Crime

Michael Avenatti Gets 14-Year Sentence For Stealing Millions From Clients

• https://www.zerohedge.com by Caden Pearson

In the California case, Avenatti defrauded four clients out of around $7.6 million from lawsuits that he won for them, only to steal the money to fund a lavish lifestyle, according to federal authorities.

According to the Department of Justice, Avenatti stole money from client trust accounts after receiving it on their behalf, lied to them about receiving it, or in one instance, claimed that it had already been given to them.

He also obstructed and impeded the IRS from collecting more than $3.2 million in unpaid payroll taxes by lying to an IRS revenue officer, directing employees to stop depositing cash receipts, and changing the company name, Employer Identification Number, and bank account listed with his credit card processing company to avoid IRS levies, according to the DOJ.

U.S. District Judge James Selna said Avenatti "has done great evil for which he must answer."


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