Not the best idea for a smart lawyer.Celebrity lawyer Michael Avenatti has been accused of trying to lend his own client's money back to them, with interest. Gregory Barela says Avenatti had secured for him a settlement from an intellectual property dispute but never gave him the money, instead offering to lend it to him at 10 percent interest.
Newsweek
If true, and this goes to trial, I'm assuming Michael Avenatti will be looking for a new line of work.In a claim filed with Judicial Arbitration and Mediation Services, Barela accused Avenatti of “operating his law firm in a Ponzi scheme like manner, taking settlement proceeds received for clients to pay off debts, pay the other individual defendants’ salaries and bonuses, and fund his lavish lifestyle.”
The claim also said he that was “telling clients that the settlement proceeds had not been received or would be received at a later date,” The Daily Beast reported.
He's had a string of complaints that he says are completely fabricated. Either he's getting piled on by a lot of people who'd like to take him down, or he's the poster boy for shyster lawyers.Avenatti says the allegations “are completely fabricated, bogus and fraudulent. We have no idea where this is coming from or why someone would make up this ridiculous false story and deceive his attorneys.
...but hey, do what you want...you will anyway.
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