Lawyer who dealt with Michael Avenatti says accused Nike extortionist did not disclose a giant settlement, then shorted him on fees

A Chicago lawyer who once worked with celebrity attorney Michael Avenatti on a lawsuit says that Avenatti didn't disclose a multimillion-dollar settlement — and then shorted him on more than $250,000 of legal fees that he was owed from the case. Joseph Power discussed his claims against Avenatti with CNBC after federal prosecutors accused Avenatti on Monday of embezzling from a client, defrauding a bank and trying to extort sneaker giant Nike for up to $25 million.