Nida, 39, plead guilty Tuesday to conspiracy to commit bank fraud and wire transfer. Reportedly, he will have to fork over restitution ranging anywhere between $2.3 million and $4.5 million. (Yikes)
In their statement today, the U.S. Department of Justice laid out the case against Nida:
“This defendant participated in a sweeping fraud scheme that exploited many segments of the financial system, including phony claims submitted to federal and state agencies, loans secured by vehicles, and even basic identity theft associated with stolen checks,” said United States Attorney Sally Quillian Yates. “The extensive nature of the fraud is unfortunate and breathtaking. 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.”
”Nida’s co-conspirator Gayla St. Julien was sentenced to 61 months in April. Realitytea.com says St. Julien issued a statement through a relative, and admitted that she cooperated in the investigation against Nida.
“Eight months ago, I did assist the Secret Service in only holding Apollo accountable for his part in the crimes,” St. Julien’s statement read. “Apollo and I have a very long history together we often referred to each other as best friends. I protected, kept Apollo’s secrets, covered up lots of affairs and when his mother lay fighting the battle against AIDS at St. Saint Joseph hospital, I was the one he called. We cried together and prayed together. Apollo made a promise to me that he would support me if the inevitable ever happened. Two weeks prior to the inevitable happening I was made aware of my arrest, I went to him and he abandoned me. With a husband and children, I faced this head on. I wasn’t going to run. On that fateful day, I already knew I was on my own.”
St. Julien had words for Parks as well, stating that she kept Parks “out of it” because someone had to stay home to take care of the children.
On his part, AJC.com reports that Nida says part of the motivation for the illegal schemes was to keep up with his reality TV star wife. Nida married Parks fresh out of jail after serving five years on a federal racketeering charge related to auto title fraud.Parks signed a $60o,000 contract at one point, and Nida says he had a nervous breakdown trying to keep up a front as a reality show star. When he was thwarted opening a legal business because of his probation, he simply fell back on what he already knew best.
“I got sucked in and engulfed and lost sight of things,” he said.
He said that the takes full responsibility for what happened, but that he didn’t think he was hurting anyone since his schemes were mostly crimes against the government and private businesses.
Nida will be sentenced on July 8. Unfortunately, the father of two boys, Dylan and Ayden, is facing up to thirty years in prison. In addition, he may also have to pay a $ 1 million fine.
Do you think Phaedra should stand by her man or send him to divorce court too?
Sound off in the comment section below.
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Phaedra Parks’ Husband Apollo Nida Pleads Guilty to Bank Fraud, Faces 30 Years was originally published on blackamericaweb.com