Apollo Nida Pleads Guilty For Conspiracy To Commit Bank Fraud

‘Real Housewives of Atlanta’ star Phaedra Parks‘ husband, Apollo Nida, has just plead guilty to conspiracy to commit bank fraud and identity theft.

As we reported back in January, Apollo had been arrested for bank and identity fraud and was facing serious time behind bars if convicted.

Although many have since speculated whether the reality star had committed the crime, it appears now that the star had in deed committed the crime. Nida plead guilty to the charges, earlier today (May 6, 2014), at the U.S. District Court for the Northern District of Georgia.

According to Access Atlanta, “In court, wearing a light-colored plaid jacket, Nida accepted charges…and a fine of up to $1 million on top of restitution for an estimated $2.3 million he allegedly defrauded various individuals, financial institutions and government agencies.”

“Nida said in court that he takes “full responsibility for my actions” and expressed regret for hurting his family and any individuals and institutions affected by his fraud.”

“It was a dumb situation I put myself in,” he stated.

Nida also admitted to having a nervous break down because of the pressure to “sustain a lifestyle” he had become accustomed to. “I got sucked in and engulfed and lost sight of things,” he said.

He also dismissed any notion that his wife had anything to do with the crime and that he kept her in the dark.

Judge Charles Pannell has set the sentencing hearing for July 8 at 2 p.m.”

Nida previously spent five years in jail for federal racketeering charges. He was released in 2009. He faces up to 30 years in prison.

To read the full details of the case, head over to Access Atlanta.

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