The Latest: Prosecutor says Avenatti case shows greed

Updated Mar. 4, 2020 8:32 p.m. ET

LOS ANGELES (AP) — The Latest on the arrest of attorney Michael Avenatti (all times local):

5:35 p.m.

Celebrity attorney Michael Avenatti says he is confident he will be "fully exonerated" of federal extortion and bank and wire fraud charges.

He told reporters late Monday he will "never stop fighting the good fight" against powerful people and corporations.

Avenatti spoke after appearing in federal court on extortion charges. He was released on $300,000 bond.

Avenatti was arrested earlier Monday after federal authorities accused him of trying to extort millions of dollars from Nike. He allegedly threatened to hold a news conference and release damaging allegations against the company if Nike didn't pay him up to $25 million.

Avenatti also faces federal bank and wire fraud charges in Los Angeles. He's accused of embezzling a client's money to pay his own expenses and making false representations to a bank.