KARMA: Michael Avenatti’s Post-Divorce Financial Troubles Are Worse Than We Ever Could Have Thought

Michael Avenatti, the attorney who represents adult film star Stormy Daniels, is having a really bad month.

According to Fox News, Avenatti reached a divorce settlement on Wednesday that will require him to liquidate several of his assets and hand over a lot to his estranged wife.

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Court filings in Orange County, California, show that the 47-year-old anti-Trump lawyer agreed to hand over thousands of dollars and other assets for liquidation.

The judge reportedly ordered Avenatti to pay wife, Lisa Storie-Avenatti, $162,295 per month in child and spousal support, which will begin on Jan. 1, 2018.

The total comes out to be around $1.9 million that he will have to pay upfront.

In addition, the judge ordered Avenatti to hand over five luxury wristwatches, several pieces of expensive artwork, and a 2017 Ferrari 488 GT Spider worth about $300,000.

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Avenatti has been busy lately teasing about the idea of running for president in 2020.

Perhaps it was all just a stunt for more publicity given he announced earlier this month that he would not run for president in 2020.

Here’s part of his statement on the decision:

The events of the last 2-3 weeks have had no impact on my plans or decision making process…

I think the field is shaping up to be even more advantageous for someone like me, not less…

I think my chances have only gone up, not gone down…

I remain concerned that the Democratic Party will move toward nominating an individual who might make an exceptional President but has no chance of actually beating Donald Trump…

The party must immediately recognize that many of the likely candidates are not battle tested and have no real chance at winning. We will not prevail in 2020 without a fighter. I remain hopeful the party finds one.

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The “events” Avenatti mentioned in his statement likely refer to the fact that he was recently arrested over domestic violence allegations.

Last month, he was released from a Los Angeles jail on a $50,000 bail after he was accused of physically and verbally assaulting his alleged girlfriend.

Avenatti said he wants a fair “investigation” so that the “truth” can come out about these domestic violence charges against him.

Before that, he was ordered to pay $4.85 million to his former law firm partner who he refused to pay for years.

Earlier this year, a judge in California dropped the hammer on Avenatti and hit his law firm with a $10 million bankruptcy judgment.

Under the Jan. 30 bankruptcy settlement, Avenatti personally agreed to pay the IRS $2.4 million in back taxes, penalties and interest, court records show.

Nearly $1.3 million of that was for payroll taxes that his law firm withheld from employees but did not turn over to the government.

At the same hearing, the Justice Department also revealed Avenatti’s firm has defaulted on back taxes that it promised to pay the Internal Revenue Service under another bankruptcy settlement.

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