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They say when it rains it pours, and when it comes to the financial troubles of Teresa Giudice, it seems to be storming.

First news came out that the Real Housewives of New Jersey star and her husband Joe Giudice filed for bankruptcy last October to the tune of $11 million in debt. Then the NYPost also reported the Giudices’ finances was being investigated by the IRS. News of a $1 million fraud/forgery lawsuit against Joe by his ex-business partner also made headlines.

Fast forward to today and there is now a new story from Zap2It, via the Wall Street Journal, stating the Giudices are being investigated for concealing some of their assets during their bankruptcy filing.

The accusation comes directly from their Chapter 7 trustee John Sywilok, who is responsible for rounding up the couple’s assets in order to distribute payments to their creditors. Sywilok is investigating them for concealing income and assets.

They alleged assets & income concealed include:

  • Interests in a pizza parlor and Laundromat,
  • Teresa’s TG Fabulicious clothing and accessories company, and
  • Teresa’s “Skinny Italian” cookbook, which is a New York Times bestseller

Sywilok also accuses the couple of making false statements under oath about their assets, income and expenses. Perhaps some of our readers knowledgeable in law can comment on the seriousness of this accusation. Is it right up there with tax evasion?

But the financial troubles still doesn’t end there for Teresa and Joe. While Teresa continues to try to convince us her home is safe, despite the fact that it was publicly listed for sale last month, albeit briefly, it seems the contents of her home might be in serious jeopardy.

The trustee is also trying to hold a public auction for the contents of the Giudices $1.7 $5 million NJ mansion, which happens to be the home they live in.

The auction has already been set for August 22, and up for grabs will be the couple’s home furnishings, accessories, tools and a boat.

Ironically enough, Teresa, who might or might not be completely out of touch with reality, is in this week’s issue of InTouch magazine showing off her home. Teresa tells the mag, “We had our house built with nothing but marble, granite and onyx.” She adds,“I don’t think you can ever have too much of that. I could’ve had even more.” And folks, we simply can’t make this up.

TELL US: WHAT ARE YOUR THOUGHTS ON THIS STORY? DO YOU FEEL BAD FOR THE GIUDICES OR DO THEY HAVE NO ONE TO BLAME BUT THEMSELVES?

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