There’s time still until we find out Apollo Nida’s fate in his fraud case, but legal experts predict he may be considering a plea deal as we speak. However, if things don’t go well and Phaedra Parks’s hubby is convicted of those charges, there’s a good chance the reality star will be forced to forfeit his properties! Yikes, but what does that mean for Phaedra?
In court documents obtained by RadarOnline.com, it becomes evidently clear that, should Apollo get slapped with a conviction, he will lose control of any and all property resulting from his alleged bank and identity fraud crimes.
“Upon conviction of the offense alleged… [Nida] shall forfeit to the United States … any property constituting or derived from proceeds obtained directly or indirectly as a result of his alleged scam,” the papers, submitted on April 24, outline. “If the court can’t find or agree upon what that property is, the government will expect a cash payment.”
Though that may seem like a dark possibility, the good news is that Phaedra and Apollo have maintained separate property holdings. The couple signed a prenup before their 2009 wedding, and Phaedra is currently the only name listed on the lease to their $849,000 shared mansion in Atlanta.
Not only does Phaedra have complete ownership over their family home, she even has a back up home in Athens, Georgia worth around $160K. Way to have your own, lady! And though we don’t want to see the family broken apart, at least we know that little Ayden and Mr. President will always have somewhere to rest their precious heads.
What do you think about this possibility — will Apollo take a plea or be convicted? And will he keep control of his properties? Tell us in the comments below.