Lister is accused of defrauding lenders out of $3.8 million, by using fake information and bank statements to obtain mortgages on four different properties in Los Angeles.
After the mortgages were obtained on the houses, Lister and three other associates allegedly used the properties as collateral.
Lister also admitted to withdrawing over $1 million in loans against the properties, which were never paid back.
According to TMZ.com, Tiny Lister is facing up to five years in prison.
The news of Lister’s possible incarceration, could seriously impact the production of Ice Cube’s new installment of “Friday.”
Ice Cube had stated in previous interviews that he was writing the script for “Last Friday,” which he hopes will include original cast member Chris Tucker.
In addition to Friday, Tiny Lister has had cameos, or starred in number of popular movies like Master P.’s “I Got The Hook Up,” “The Dark Knight,” “The Wash,” “The Players Club,” “Jackie Brown” and others.
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