Celebrity

Phaedra Parks Husband Enters A Guilty Plea

I wonder what Phaedra Parks is going to do now that her husband has entered a plea of guilty to committing bank fraud and wire transfer.  Will they stay married or was it a marriage of convenience?  I am not a fan of RHOA and personally I think the show does not make for good television however this situation is not something to get the Nielsen ratings up higher.  He is going to go to jail and for quite some time.  The reality of this is simple he committed a crime and he must pay the price for it.  What boggles my mind is that Parks is an attorney and what would ever posses her to get involve with a man like this.  

Hmmmpf, the power of the “D” must be really strong!!!  

Read the story as reported by CBS46

Apollo Nida, 35, who is married to Real Housewives of Atlanta cast member Phaedra Parks, pleaded guilty to conspiracy to commit bank fraud and wire transfer.

phaedra-parks-apollo-nida-wedding-photos

As CBS46.com previously reported, Nida created several fake collection companies in order to gain access to the personal information and credit history databases operated by companies like Equifax and Lexis-Nexis.

According to the U.S. Attorney’s office, Nida’s scheme took place over four years and affected more than 50 victims. They say he had a number of checks from the fraudulent claims mailed to mailboxes rented by co-conspirators at UPS stores across northern Georgia.

In order to get bank loans, Nida also created fake documents and websites that appeared to belong to legitimate car dealerships.

“The extensive nature of the fraud is unfortunate and breathtaking,” said United States Attorney Sally Quillian Yates. “Prosecutions like this case help to highlight the vulnerabilities in the financial system, so that we can prevent future schemes and protect our citizens and government agencies from theft like this.”

Apollo

“Many everyday citizens, legitimate businesses and taxpayers have been victimized by this complicated and long running fraudulent scheme. After an intensive investigation with the cooperation of federal, state and local law enforcement, we are very pleased to at long last see this criminal brought to justice,” said John D. Sours, Administrator, Governor’s Office of Consumer Protection.

As part of the plea agreement, Nida will pay between $2.3 million and $4.5 million in restitution.

Nida is scheduled to be sentenced on July 8. He faces up to 30 years in prison and $1 million in fines.

Source: CBS46

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