Attorney Michael Avenatti’s arrest on federal charges is a sharp reversal of fortune for a man who was considering a run for president last year.

Avenatti’s arrest Monday came just over a year after he rose to prominence representing porn actress Stormy Daniels in her legal battles against President Donald Trump.

Avenatti was charged with allegedly trying to extort up to $25 million from Nike and bilking settlement funds from a client. He also faces a bank fraud charge.

FILE - In this Dec. 12, 2018 file photo, Michael Avenatti, lawyer for porn star Stormy Daniels, speaks outside court in New York. (AP Photo/Julio Cortez, File)
FILE – In this Dec. 12, 2018 file photo, Michael Avenatti, lawyer for porn star Stormy Daniels, speaks outside court in New York. (AP Photo/Julio Cortez, File)

Avenatti says he is confident he will be “fully exonerated.”

He was released on $300,000 bond after a brief court appearance in New York.

If convicted of the charges in California and New York, Avenatti could face up to nearly 100 years in prison.

FILE - In this July 27, 2018 file photo, attorney Michael Avenatti replies to questions by reporters during a news conference in front of the U. (AP Photo/Richard Vogel, File)
FILE – In this July 27, 2018 file photo, attorney Michael Avenatti replies to questions by reporters during a news conference in front of the U. (AP Photo/Richard Vogel, File)
Geoffrey S. Berman, the United States attorney for the Southern District of New York, points to a chart during a press conference, outlining details that lead to extortion charges for attorney Michael Avenatti, on Monday March 25, 2019, in New York. (AP Photo/Bebeto Matthews)
Geoffrey S. Berman, the United States attorney for the Southern District of New York, points to a chart during a press conference, outlining details that lead to extortion charges for attorney Michael Avenatti, on Monday March 25, 2019, in New York. (AP Photo/Bebeto Matthews)
U.S. Attorney Nick Hanna announces charges against lawyer Michael Avenatti at a news conference in Los Angeles Monday, March 25, 2019. (AP Photo/Brian Melley)
U.S. Attorney Nick Hanna announces charges against lawyer Michael Avenatti at a news conference in Los Angeles Monday, March 25, 2019. (AP Photo/Brian Melley)

A U.S. Attorney in Los Angeles says lawyer Michael Avenatti, a critic of President Donald Trump, could face up to 50 years in prison if convicted on wire and bank fraud charges. (March 25)
A U.S. Attorney in Los Angeles says lawyer Michael Avenatti, a critic of President Donald Trump, could face up to 50 years in prison if convicted on wire and bank fraud charges. (March 25)

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