Apollo Nida Pleads Guilty in Bank Fraud Case — Faces Up to 30 Years in Prison
Credit: Photo via Instagram    
Share on Facebook0Share on Google+0Tweet about this on Twitter0

Real Housewives of Atlanta

Apollo Nida Pleads Guilty in Bank Fraud Case — Faces Up to 30 Years in Prison

After more than three months of pushed back court dates and reported meetings with federal prosecutors, Real Housewives of Atlanta star Apollo Nida plead guilty to conspiracy to commit mail, wire, and bank fraud on May 6, reports TMZ.

Phaedra Parks’s husband was charged by the feds back in late January with bank fraud and identity theft, and was released on a pretrial bail of $25,000. He’s since been in and out of courtrooms, in a move that some suspected indicated a plea bargain was being wagered.

The U.S. Attorney's’ office claims Apollo ran an elaborate fraud scheme that saw him steal the identities of more than 50 people. He’s said to have cashed stolen U.S. Treasury checks, as well as Delta Airlines pension fund checks. By doing so, the feds say Apollo laundered more than $2.3 million through the bank accounts of the identities he stole.

Not only that, but prosecutors claim Apollo scooped up even more money by filing fake tax returns, as well as obtaining loans for cars he doesn’t own.

By accepting the charges, Apollo faces up to 30 years in prison and a fine of $1 million. That doesn’t include restitution for the estimated laundered sum listed above. Judge Charles Pannell has set the sentencing hearing for July 8 at 2 p.m. ET.

Check back with Wetpaint Entertainment for updates on the ongoing case.

Are you surprised that Apollo plead guilty? What do you think that means for him next? Share in the comments below.

Sources: TMZ, Atlanta Journal-Constitution

Around The Web