'Love & Hip Hop' Star's Alleged Saks Shopping Spree Might Cost Her 3 YEARS!

"Love & Hip Hop: Atlanta" star Karen King is staring down some serious prison time for allegedly going on a shopping spree ... with someone else's identity.

King was arrested in May after cops say she strolled into Saks Fifth Ave in ATL and racked up a $5k bill on dresses, perfumes, shoes and other accessories. The D.A. just hit her with 3 felony charges -- one for financial identity fraud, and two for credit card fraud.

Each carries a sentence of at least a year behind bars if she's convicted.

TMZ obtained video of the arrest when it went down, and at least Karen can say ... she was dressed to the nines for her arrest! Unclear if the outfit came from Saks though.