According to production sources, Nida proposed to an unidentified woman a couple of months ago and the couple will appear on The Real Housewives of Atlanta together this season, TMZ reported.
Nida allegedly began dating his new fiancee two years ago, before he surrendered for his eight-year prison sentence in September 2014, which was right around the time he also split from Parks after nearly five years of marriage.
The bride-to-be reportedly lives in New Jersey and visits Nida, 37, at the federal prison twice a week.
Nida and his fiancee shot scenes for The Real Housewives in which he's talking to her on the phone, according to TMZ, and producers want to keep her identity a secret until the episode airs.
Parks' reaction to the engagement news was also reportedly captured on tape for the show.
The 43-year-old reality TV star -- who shares six-year-old son Ayden and three-year-old son Dylan with Nida -- announced earlier this month her divorce from Nida has been finalized.
Nida had laundered over $2.3 million in the four years leading up to his January 2014 arrest by creating fake companies to steal people's identities in order to open fraudulent bank accounts in their names and deposit stolen money.
Nida was previously imprisoned from 2004 to 2009 for breaking federal racketeering laws related to auto-title fraud. He married Parks, an attorney, the same year he was released from jail.
Parks joinedThe Real Housewives of Atlanta in Season 3, and Nida often appeared on the series with her. The Bravo show's ninth edition just premiered on November 6.