Michael Avenatti Will Have To Sell His Luxury Cars & Private Jet Shares To Pay $2 Million Divorce Debt

Michael Avenatti Will Have To Sell His Luxury Cars & Private Jet Shares To Pay $2 Million Divorce Debt

Stormy Daniels’ attorney said this week that he wouldn’t be running for President in 2020, citing family commitments.

Michael Avenatti, the California lawyer representing Donald Trump accuser Stormy Daniels, will have to sell off some of his more higher-priced possessions in order to raise money to make right a $2 million divorce settlement, Business Insider is reporting.

Avenatti, a former professional race-car driver, is mired in a divorce from his second wife Lisa Storie Avenatti, who filed for divorce from him in 2017.

And according to court documents obtained by TMZ, that divorce is costing him millions. He’s been ordered to pay $37,897 per month in child support for their preschool-aged son, retroactive to January 1, 2018. He’s also been ordered to pay spousal support of $124,398 per month, retroactive to January 2018. Collectively, that adds up to about $2 million.

To satisfy the obligation, Avenatti will have to sell five luxury watches, some of which are worth upwards of $50,000; a Frank Gehry sculpture, and several other expensive works of art; and a 2017 Ferarri 488 GT Spider, which has a sticker price of about $300,000. What’s more, he’ll also have to sell his share of a 2017 Honda private jet, which is owned by his law firm, Avenatti & Associates.

It’s been a tough few months for the Southern California lawyer, who has represented Stormy Daniels and various other women accusing Donald Trump and other conservative men of misdeeds.

Just a few days ago, as Politico reported at the time, Avenatti announced that he wouldn’t be challenging Donald Trump for president in 2020, citing family issues. In addition to the young son he shares with Lisa Storie Avenatti, he also has two teenage daughters from a previous relationship.

“I do not make this decision lightly — I make it out of respect for my family. But for their concerns, I would run.”

Prior to that, Avenatti and Daniels suffered a setback in their ongoing battle with Trump. As USA Today reported at the time, a judge threw out Avenatti and Daniels’ defamation lawsuit against Donald Trump and ordered him to pay the president’s legal fees. Daniels claimed that Avenatti filed the suit without her permission.

Also in November, Avenatti was arrested on suspicion of domestic violence, as The Wrap reported at the time. His most famed client, Stormy Daniels, said that she would fire Avenatti as her attorney if the charges proved to be true.

“These are serious and obviously very troubling allegations, but right now that is all they are: allegations.”

However, the charges were later dropped, as The Washington Post reported.

Source: Read Full Article