'The Real Housewives of New Jersey' Season 5 Stars Teresa & Joe Giudice Facing 50 Years For Money Fraud
One of Bravo's most highest paid couples, The Real Housewives of New Jersey's Teresa Giudice and her husband Joe Giudice, are facing multiple charges, which could land each of them in jail for 50 years.
TMZ reported on Monday that the couple has been hit with a whopping 39 charges for a wide range of offenses, such as failure to report income to the IRS and bank fraud.
U.S. District Attorney Paul J. Fishman announced on July 29 the charges the couple is facing. The following is a partial list of what they are accused of:
-From 2004-2008, Joe failed to file income tax returns (he allegedly earned $1 million).
-The couple overestimated their incomes to banks in order to get more money when they applied for mortgage loans.
-They withheld their financial income after they filed bankruptcy in 2009, including their earnings from Bravo's hit reality.
- They attempted to commit mail and wire fraud.
The Giudices each face a maximum of 20 years in jail for bank fraud and up to 30 years each for the alleged bank schemes, according to the report. The couple has not been arrested but they are due in a New Jersey court on Tuesday, July 30.
People reported on June, 2010 that the couple filed for bankruptcy in October 2009 over various outstanding debts to creditors, which totaled almost $11 million. The news came as a shock to fans because Teresa and Joe displayed a lavish lifestyle during the first season of TRHONJ.
Teresa often flashed wads of cash, bought expensive toys for their kids and even spent $2,000 during a 10-minute shopping spree, during one episode.
A friend of the couple told Radar Online earlier this month that Teresa has found a clever way to earn additional income without reporting it to Uncle Sam, following their bankruptcy filing: she has been getting paid in cash for her appearance at events, at store openings and book signings. Giudice is allegedly handed an envelope with cash, said the insider. Even if she makes profits from her books at a book signing, she still receives a separate fee in cash for her appearance.
"Teresa will go to a book signing or a café or party, and she gets paid cash by people that arrange her appearance, not Bravo but other people," a source close to the reality star told RadarOnline at the time.
