Apollo Nida Pleads Guilty To Bank Fraud & Identity Theft

The Jig Is Up: Apollo Nida Pleads Guilty To Bank Fraud & Identity Theft And Could Face Up To 30 Years In Prison

- By Bossip Staff


Apollo Nida Pleads Guilty To Bank Fraud & Identity Theft

RHOA cast member Phaedra Parks’ husband Apollo Nida has been going through a legal whirlwind for the past few months after it was revealed that he was involved in a bank fraud scheme where he allegedly defrauded multiple people to the tune of over $2 million and now he’s finally stepping up to officially take the wrap for his part.

via Atlanta Journal Constitution

Apollo Nida, the husband of Phaedra Parks, today pled guilty to charges of mail, wire and bank fraud in the U.S. District Court for the Northern District of Georgia.

In court, wearing a light-colored plaid jacket, Nida accepted charges that could land him in prison for up to 30 years 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.

Alana Black, the assistant U.S. attorney, told Judge Pannell Nida’s scheme in detail. He opened a fake debt collection agency to gain access to databases full of individual’s personal information. He would then steal people’s ID and find unclaimed funds, refunds from the U.S. Department of Housing and Urban Development, stolen U.S. treasury checks and refunds from fraudulent U.S. income tax returns.

Nida had St. Julien open UPS mailboxes and bank checking accounts using those fake identities, deposit those checks, then pocket the money.

Later, he created fake auto dealerships and then get auto loans for phantom cars.

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 said.

As an explanation for the reasoning behind his shady shenanigans, Apollo claimed it was the pressure to keep up with Phaedra’s abundant stream of income following his prison stint that led him down the wrong path, but also made it clear that she knew nothing about his criminal antics.

He did provide some context for his actions. In 2009, Nida had just left prison after five years for federal racketeering charges related to auto title fraud. He and Parks married and she soon signed on to be part of “Real Housewives of Atlanta.”

He said she was making far more money than him and he felt pressure to keep up. 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.

Looks like things will be definitely be getting worse before they get better where Phaedra and Apollo are concerned.

Photo Credit: Bravo TV

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