Teresa Giudice and her husband Giuseppe "Joe" Giudice, stars from "The Real Housewives of New Jersey, face 39 counts of bank fraud, conspiracy to commit mail and
wire fraud, bankruptcy fraud and making false statements on loan applications. The couple posted bail of $500,000 each and were released from custody at their recent court appearance. The court ordered the couple to surrender their passports and is restricted to stay in New Jersey and New York. If convicted Joe Giudice could be deported back to Italy due to the fact he is not a United States citizen.
The Giudices are accused of amplifying their income while applying for loans before the couple's television series aired in 2009. The couple concealed their actual income in a bankruptcy filing after the first season of their TV show aired on Bravo. The couple submitted fraudulent mortgage and other loan applications from 2001 until 2008. A year before the television series aired, the couple submitted fake W-2s, bank account information to lenders and tax returns.
The Giudices acquired about $4.6 million in withdraws from home equity lines of credit, mortgages and construction loans. In addition, Joe Giudice failed to file tax returns for 2004 through 2008, when he alleged to have grossed nearly $1 million in income. In 2009, the couple's bankruptcy filing stated they were $11 million in debt. That their monthly take home income was $16,583, but $10,000 was from monthly assistance from family and the Bravo television series. The bankruptcy filing also stated they owed $2.2 million in mortgages, $12,000 to a fertility clinic and $13,000 to Neiman Marcus and Nordstrom. If convicted on the charges, the couple faces a maximum penalty of a $1 million fine and 30 years in federal prison.
If you or a loved one has been charged with bank fraud or any other type of fraud, contact our firm today! We offer relentless criminal defense to residents in Los Angeles and Beverly Hills.