Michael Avenatti to be charged with new financial crimes

Michael avenatti in a suit
Celebrity lawyer Michael Avenatti. Photo: David McNew/Getty Images

Federal prosecutors are expected to charge lawyer Michael Avenatti with more financial crimes on Wednesday, including misappropriating money intended for Stormy Daniels when he previously represented her, according to ABC News.

The backdrop: Avenatti has been charged in several states, including 36 charges from federal prosecutors in California for fraud, perjury, tax evasion, embezzlement and other financial crimes. The new charges will be filed in Manhattan, in addition to charges for attempting to extort $20 million from Nike.

NY passes bill allowing Congress access to Trump's state tax returns

President trump giving a thumbs up
President Trump at a rally. Photo: Mark Makela/Getty Images

New York's state legislature passed a bill on Wednesday permitting tax officials to turn over President Trump's state returns to any one of three congressional committees, the New York Times reports.

Why it matters: Trump has refused to comply with a congressional subpoena for his federal tax returns, which are likely to contain similar information to his state returns. If Gov. Andrew Cuomo signs the bill as expected, the move could ignite a heated battle between New York state and Trump's legal team.