Teresa and Joe Giudice’s Bankruptcy Fraud Case
Reality tv stars Teresa and Joe Giudice, from the Real Housewives of New Jersey, are one step closer to finalizing their bankruptcy fraud case.
The stars of the Real Housewives of New Jersey, Teresa and Joe Giudice were both convicted of bankruptcy fraud.
Teresa was convicted of bankruptcy fraud in 2014, conspiracy to commit mail fraud, and failure to pay taxes. She was sentenced to fifteen months in federal prison, but was released after serving eleven months.
Husband Joe Giudice was convicted as well, and sentenced to forty-one months in prison. Currently, he is imprisoned at the Federal Corrections Institute Fort Dix. Both were ordered to pay restitution in the amount of $414,588.00
However, even though their bankruptcy case was dismissed, they have been negotiating with creditors and what seems to be pending is past due taxes with the Internal Revenue Service and the New Jersey Department of the Treasury.
Since being released from prison, Teresa has taken up professional body building, even placing third in the NPC South Jersey Body Building Competition.
The judge did scatter the prison sentences of both since they have minor children in common. Joe is expected to be released from federal custody in March of 2019.
Joe Smith earned $61 million in his 16-year NBA career, yet, he is living paycheck-to-paycheck and is in debt $157,000.
Paul Teutul of American Chopper, filed for Chapter 13 bankruptcy in New York.