Apollo Nida, the husband of “Real Housewives of Atlanta” reality star Phaedra Parks, could possibly be facing up to 30 years in jail after he pleaded guilty to bank, mail and wire fraud on Tuesday.
Back in January Nida’s arrest made headlines when he was named the “mastermind” behind a major identity-theft scheme.
Nida’s guilty plea means he is admitting to laundering more than $2.3 million and stealing the identities of more than 50 people.
Police say authorities began investigating Nida after the reality star cashed a large number of stolen U.S. Treasury checks and checks from the Delta Air Lines pension fund.
According to previous reports from the Atlanta Journal Constitution, Nida managed to get even more money by filing fake tax returns and getting bank loans for cars he didn’t actually own.
Apollo pled guilty to all the charges brought against him and claimed that he felt the pressure to uphold a moneyed lifestyle because of his reputation as a reality television star.
He told the U.S. District for the Northern District of Georgia that he “got sucked in and engulfed and lost sight of things.”
He also said it was hard to find legal ways to make more money because of his past criminal record.
Back in 2004, Nida was arrested for federal racketeering charges and had to spend five years behind bars.
Regardless of why he felt the need to run the major fraud scheme, he said he understands that it wasn’t the right decision to make.
“It’s my fault at the end of the day,” he said in court.
Judge Charles Pannell has set Nida’s sentencing hearing for July 8 at 2 p.m.
According to the Atlanta Journal Constitution, Nida could possibly face a fine of up to $1 million, in addition to paying restitution for the $2.3 million he laundered.
This means Nida could possibly have to come up with over $3 million while still facing a 30-year jail sentence.
Parks has not yet responded to the guilty plea but considering her silence throughout the entire process, it isn’t likely the reality star will comment on the matter any time soon.
