Apollo Nida husband of RHOA star, Phaedra Parks pled guilty to charges of mail, wire and bank fraud in the U.S. District Court for the Northern District of Georgia.
Nida’s plea could land him up to 30 years in prison, plus a fine up to $1 million on top of an estimated $2.3 million in restitution-the amount he allegedly defrauded various individuals, financial institutions and government agencies.
The sentencing date is scheduled for July 8th ironically the same day as RHONJ stars Joe and Teressa Giudice.
Apollo’s co-conspirator, Gayla St Julien was sentenced to five years in Federal prison just a few weeks ago.
He and local Atlanta attorney, Phaedra Parks married shortly after his release from Federal prison in 2009 for racketeering charges related to auto title fraud.
According to Rodney Ho of the AJC, here’s how Apollo explained his actions in court today:
He said she was making far more money than him and he felt pressure to keep up. (He cited a $600,000 contract for her but didn’t say how long that was supposed to last.) Without easy legitimate ways to make quick money, he opted for this illegal scheme instead. But he claimed to her he was running a legitimate debt recovery firm and kept her firmly in the dark.
He said he even had a nervous breakdown at one point over the pressures to “sustain a lifestyle” befitting of a reality show star. And once he started the scheme, he found it difficult to stop. “I got sucked in and engulfed and lost sight of things,” he said.
Nida said he often didn’t think about whether this was hurting anybody because he was primarily targeting private businesses and the government, not individuals. And in the case of unclaimed property, what were the odds these folks would ever claim them?
An attempt to open a legal halfway house fell through, he said, because he was on probation for his prior conviction.
“It’s my fault at the end of the day,” he said.
Read more here: AJC