BILOXI, Miss. (AP) — A small Mississippi bank says it didn't lose money on loans made to Michael Avenatti.
The lawyer, best known for representing porn actress Stormy Daniels, was arrested Monday on charges that he embezzled from a client and tried to extort millions from Nike.
In a separate Los Angeles case, Avenatti is charged with bank fraud and wire fraud. An IRS agent alleges Avenatti submitted fake income tax returns to The Peoples Bank of Biloxi, receiving three loans totaling $4.1 million to himself and his law firm. The agent says Avenatti claimed he earned millions and paid millions in taxes when he hadn't submitted tax returns or paid taxes.
Peoples Bank Chairman and CEO Chevis Swetman says the loans were repaid. He didn't say how Avenatti came to borrow from Peoples.
- Mississippi bank: Avenatti repaid loans in criminal case
- Mississippi sues student loan processing company
- Federal judge sentences former Tupelo loan officer for bank fraud
- Mississippi bank to buy southwest Alabama bank for $60M
- Bank of Commerce expands north Mississippi footprint
- Mississippi enacts new laws on teacher pay, criminal justice
- Deadline approaching in Mississippi for SBA working capital loans due to rain, flash flooding and flooding
- Deadline approaching in Mississippi for SBA working capital loans for drought
- Mississippi bank gets new leader as longtime CEO steps aside
- Columbus-based bank to acquire Alabama bank