May 7, 2014
: MediaTakeOut.com learned that LATE yesterday, Apollo Nida plead GUILTY in federal court of orchestrating a $2.3 million complex criminal enterprise spanning four years and harming over 50 victims.
According to the U.S. attorney, the stolen checks involved in the scheme included United States Treasury Checks, as well as checks stolen from the pension funds of Delta Airlines. In addition, the conspirators obtained funds by filing fraudulent tax returns with the Internal Revenue Service and making fraudulent claims against the U.S. Department of Housing and Urban Development.
Nida, 35, pleaded guilty to conspiring to commit mail, wire and bank fraud. He apologized to the court, and said he takes full responsibility for his actions. “I was doing it to sustain a lifestyle and everything that was going on,” Nida said.
A female co-conspirator was convicted and sentence last month to five years in prison. Nida’s sentencing is scheduled for July. The former reality TV star faces up to 30 years in prison.
We’re told that as ONE of the conditions of Apollo’s GULTY PLEA, federal prosecutors have agreed to STOP any and all investigations into his wife Phaedra – who was NOT believed to have any involvement in Apollo’s crimes.