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Far. reporter: tonight michael avenatti facing sweeping charges on both coasts. federal prosecutors in new york accusing the lawyer of trying to extort up to $25 million from apparel giant, nike. a suit and tie doesn t mask the fact that at its core this was an old fashioned shakedown. reporter: prosecutors saying avenatti claimed to have a client, a coach who had damaging information about nike payments to high school basketball players and their families and he threatened to go public. in one wiretap, avenatti allegedly warned nike lawyers, i ll go take $10 billion off your company s value. i m not expletive around. and abc news has learned one who was not arrested was celebrity attorney mark geragos. and today, avennati was arrested just 15 minutes after this ....