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Update: Joe Giudice withdrew his bankruptcy petition, meaning he owes his creditors 11 M. Teresa, who did not withdraw her petition, is working hard to pay off their debts.

 

UPDATE JUNE 30  The bankruptcy fraud trial  has been postponed until October 13.

Update November 14:

From the way the original blog post is written (see below) I did not assume it’s veracity, hence, the question mark in the title. However, confirmation of the hearing has been obtained. This hearing set for July 14, 2011 is to get a judge to dismiss the Giudices’ Chapter 7 bankruptcy petition because of fraud.

  • Failure to report $250,000 (an advance Teresa received from a publishing deal for her book)
  • Failure to report Joe’s ownership/interest in a Pizza shop
  • Failure to report a $3,333.33 monthly income
  • Concealing assets including a bank account of Joe’s, two pieces of real property, vehicles, the ownership of an online boutique called TG Fabulicious
  • Presenting false income tax returns to the bankruptcy court

Original Post:

Joe and Teresa Giudice’s arrogance and lack of regard for the law is finally catching up with them. The Giudices of the Real Housewives of New Jersey filed for bankruptcy protection in the fall of 2009, then proceeded to continue hiding assets and spending money, all of which was public and well known by anyone watching the show.

I found this post on a blog last night, it is not edited by me. 

Joe and Teresa Giudice will go on trial for alleging lying on their bankruptcy petition. The US Justice Dept.  filed a complaint against the Giudice’s  and it seems that all discovery is compete and the trial is set for next year,  in July.

The US Justice Dept. cited errors on the Giudice’s bankruptcy petition, stating Teresa hid her $250,000 book advance and she and Joe did not disclose other businesses as well  the Lawyer for the US Justice Dept stated “

The Defendants further stated on Schedule I that as of the petition date Defendant wife was unemployed, but received $3,333.33 in monthly “income from Bravo and The Defendant wife testified that she does not hold interests in any businesses”.

Those statements may send Joe and Teresa to jail, it is not clear why the Giudice’s would sign the petition with those statements under oath when in fact Teresa had an online business she was receiving income from and had other income as well. The petition was riddled with issue’s and now  the couple will answer in  open Court! Giudice stated in her bankruptcy papers she had no business but had launched her online store and was receiving income from it!

The Us Justice Dept has it’s work cut out for them as the Giudice’s have made some slick moves, in one episode of the reality show Teresa was seen paying over $100,000 for furniture yet to try and avoid the bankruptcy Auction of their home furnishings they  had their lawyer  file papers that  they purchased most of the home items after they filed for bankruptcy just washing away all or most of there property. The upcoming trial will be interesting, when ibuysss.com Tabloid asked Bravo if the Giudice’s financial woes would be apart of the up coming Realhousewives show they would not comment.

Related Articles

Teresa’s Post-Bankruptcy Spending

The Teresa Giudice "Show and Tell"

Giudices Accused of Fraud

Teresa Giudice Blames Tabloids

Who’s Tara?

  13 Responses to “Joe and Teresa Giudice Bankruptcy Fraud Trial Update”

  1.  

    I despise these two with every fiber of my being.

  2.  

    Funny how quickly this is moving to trial since they are “realty celebs” yet for regular folks it takes YEARS for the BK court to go after people…

    I am sure the sam will work for a “trial.” If it was just a regular person, they would get jail time..bet these “fake celebs” cut a DEAL with the GOVERMENT!!!

  3.  

    EXAMPLEs of what I am talking about:

    On August 27, 2010, in Baltimore, Md., Olusola Idowu, of Hagerstown, was sentenced to 46 months in prison, three years of supervised release, and ordered to pay $425,000 in restitution. Idowu was the owner and president of SSS Nutrition & Dietetic Care Services (SSS Nutrition). According to testimony at her trial, between November 2003 and December 2008, Idowu made false representations to financial companies in order to obtain mortgages and loans; and lied to, and concealed information from, the U.S. Bankruptcy Court ..THESE PEOPLE DID THE FRAUD IN 2003!!!

  4.  

    There won’t be jail time for failing to disclose assets/income on their petition. This trial simply means, that after filing for bankruptcy they will complete without a discharge. Meaning creditors will be able collect any debt not received through the bankruptcy (mostly unsecured creditors) Since the filing, it was clear the Giudice’s enemies were well collected over a period of a decade. HOWEVER, as much as it was clear that Joe Giudice is a shady bastard, the real problem lies with their attorney who is one of the most incompetent bankruptcy attorneys in Northern NJ. Considering all the money, the Giudices should have done their homework, because he is in serious breach of practice well worth observation from the ethics committee.

    •  

      ToGal, you are correct that the Giudice’s will have to appear in court to determine if their bankrupcty will go through, which it won’t because they failed to disclose assets. But the statement about their lawyers being unethical isn’t the issue, it’s Joe and Teresa’s ethics that should be questioned. The lawyer only presents information that the client provides so the problem isn’t the lawyer. I can guarantee you Joe will have to serve some jail time because after the bankrupcty trial there’s another one scheduled in January 2012 where he will face serious charges of fraud. Keep in mind he presented false tax returns — the IRS doesn’t play that… and they will come down hard. When the Department of Justice is involved that alone states the seriousness of Joe’s criminal behavior.

      •  

        Sorry..but it may not even get dismissed..I know of cases that have fraud beyond a shadow of a doubt and they still got APPROVED!

  5.  

    Must be nice to move into a huge home, then declare bankruptcy and still get to live in it without a forclosure. The rich have the best lawyers and know how to use the laws to benefit themselves. If this pair went to prison it would be justice.

  6.  

    I pray to the Gods Joey arms too short Giudice goes to jail. He has that other fraud case too. He used his brothers info to get a drivers license. Troll be gone. LOL LOL LOL LOL. See ya next week.LOL

  7.  

    Lol…I know of an exact case of fraud like theirs in GA where the same thing happened(concealed assets and income) and evidence was provided including cancelled checks and the BK was APPROVED as a Chapter 7. Too bad they didn’t commit fraud in Georgia they would have gotten away with it. Just proves the DOJ(dept of Justice) is named correctly..for being BLIND!

  8.  

    Let’s not forget Teresa’s income from Tweeting. She was the top-Tweeter on Mylikes where they pay up-to a dollar a Tweet. How many followers does she have???
    Yes it is sad that those children could lose their parents to prison, but how stupid to shamelessly go on national tv, and act like they are better than people who don’t spend outrageous amounts on luxury garbage?

  9.  

    What does “trying to stay positive” mean? There will be serious issues if this goes under the rugs!!! Thugs, thugs, thugs….no matter how positive you pretend to be!!!!

  10.  

    Whoa!!!! What does “trying to stay positive” mean? There will be serious issues if this goes under the rugs!!! Thugs, thugs, thugs….no matter how positive you pretend to be!!!! Cutting a deal will only get them that far!

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