Shah and her assistant, Stuart Smith, were charged with conspiracy to commit wire fraud in connection with telemarketing and conspiracy to commit money laundering. Shah previously had pleaded not guilty but changed her plea in federal court in Manhattan.
According to a statement the Department of Justice released in March 2021, Shah and Smith “allegedly generated and sold ‘lead lists’ of innocent individuals for other members of their scheme to repeatedly scam.” Per the DOJ, these “so-called business opportunities” that Shah, Smith and others presented to clients “were just fraudulent schemes, motivated by greed, to steal victims’ money.”
As part of her plea agreement, Shah could serve up to 14 years in prison. Her sentencing is scheduled for Monday, Nov. 28. In addition, she will have to pay her victims more than $9 million in restitution.
In court on Monday, Shah addressed the judge, admitting to committing wire fraud with others. “I knew this was wrong,” she said as she read from a prepared statement. “I knew many people were harmed, and I’m so sorry.”
Shah’s arrest, as well as the lead-up to her plea, was a storyline on Season 2 of the Bravo reality series. TVLine hears that the plan is for Shah to continue to be a part of the show. Bravo had no comment on Shah’s plea.