Federal prosecutors on Wednesday unveiled a new fraud charge against lawyer Michael Avenatti.
Reuters reports the feds are accusing Avenatti of lying to a client as part of his alleged effort to extort Nike Inc.
However, the prosecutors also dropped two counts of conspiracy against Avenatti from the case.
Avenatti told Reuters it was 'obvious' that the case against him was 'falling apart.'
I expect to be fully exonerated when it is all said and done.