Thursday, August 21, 2014
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'Housewives' couple plead guilty to fraud in NJ

Gallery: 'Housewives' couple plead guilty to fraud in NJ

Reality caught up with two stars of the TV show “Real Housewives of New Jersey” today as they pleaded guilty in federal court to a bank and tax fraud scheme.

Teresa Giudice, 41, and Giuseppe Giudice, 42, of Towaco, submitted fraudulent applications and documents to lenders as a way of obtaining mortgages and other loans, prosecutors said. From 2001 to 2007, they claimed they were receiving substantial salaries when they were not employed.

During that period, Teresa applied for and received a $121,500 claiming she was an “executive assistant” and a $361,250 mortgage loan by stating she was a Realtor who made $15,000 a month.

“In reality, Teresa Giudice was not employed at the time,” prosecutors said.

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    In October 2009, the couple filed for bankruptcy, concealing the businesses they owned, income from rental property, and Teresa’s real income from the TV show. Giussepe also admitted he failed to file taxes from 2004 through 2008 on nearly $1 million in income, prosecutors said.

    Each pleaded guilty today to conspiracy to commit mail and wire fraud. Both could be subject to 20 years in prison and a $250,000 fine when they are sentenced July 8. As part of a plea agreement, Teresa will have to pay $200,000 to the government .

    Sam Wood PHILLY.COM
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