G Herbo just cut a plea deal in his federal fraud case … and could end up spending a good chunk of time behind bars.
According to his plea agreement, Herbo will plead guilty to one count of conspiracy to commit wire fraud and one count of making false statements. Prosecutors agreed to dismiss the remaining counts.
He faces up to 20 years on the wire fraud count and up to 5 years for the false statements.
As we told you at the time of the arrest, Herbo, music promoter Antonio Strong and several others were accused of running an identity fraud ring to obtain stolen payment card information in order to buy private jet flights, exotic car rentals, a luxury villa during a Jamaican vacation and high-priced “designer puppies.”
Waiting for your permission to load the Instagram Media.
Feds claim they intercepted several messages showing the men participating in the scheme.
Under the plea deal, Herbo will also have to pay around $140k in restitution to Planemasters, Epic Jet, Woof Woof Puppies and other companies.
TMZ Hip Hop just broke the story of Herbo being arrested in Chicago for gun possession, and he also had a hearing for that case.
We reached out to Herbo’s lawyers to see what the next course of action is. Stay tuned!!!