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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?
Sven, you should contact RT regarding Joan stalking you. She has no right to repost your comments to sensor your point of view.
@DesignDiva
Hi…sorry to hear of your procedure.
I did post the links you requested on the Kelly article.
Thanks to you and @Dyana.
Feel better DD.
Dyana, have a great day!
(189) Joan, you need to let other posters be. RT will delete inappropriate postings.
Your condescending ways have upset another poster, indeed. Sven, admitted to
alzheimers. Have you had enough?
@cusi77 db
Read the comments on the article about Bensimon
@190 Sven
It’s hard NOT to follow you – I’m thinking you were vaccinated with a phonograph needle………your posts go on and on and on and on and on and on and on and on and on and on and on and on…………………….
Oh yeah, another thing – your posts go on and on.
I am now realizing from posts by some of you that I am not a “well-liked” person on this site by many.
I defer to your consensus and realize I have to admit to myself that I did not offer anything of substance or friendship that many of you found to be of value.
I apologize for taking up your time and hurting or angering any of you in any way; that was not my intent.
I apologize for upsetting and/or angering any one of you.
Just my 2 cents worth. Is it just me or was anyone else less than surprised that Joe and Teresa filed for bankruptcy? Neither one of them strikes me as any great shakes in the “brains department.” It is one thing to obtain a business or start one. It is quite another thing to run and maintain a successful business. I can’t exactly shed any tears over a family living in a 5 million dollar home. They had to have known before they built this house that their finances were in trouble.
Sven, don’t stop posting. I’d rather read your posts than any of hers.
Looks like prison for them, or one of them at least. too bad.
Yes, well, for one thing, if anyone knows the east coast like I do you know that this is a scam that people such as the Gaudice’s pull off constantly. It’s not unusual to see “business people” hide companies and assets in LLCs, it’s par for the course. They reinvent themselves over and over again and never end up paying for anything or having their lifestyle inconvenienced. I know, I worked for the government and saw it all and I’ve done personal business with builders and the like who live this way.
The big mistake the Gaudice’s made is making the their lives so public and Teresa running off at the mouth and bragging about everything. People who embrace this type of scam lifestyle tend to keep a very low profile. These two are so stupid they think Feds or lawyers don’t watch television. They also failed to note that the usual protection of an LLC means little when asking for a discharge of debts of that LLC via a bankruptcy.
What they are facing is big trouble and more inconvenience than I’m sure their IQs can tolerate. They will not get their debts discharged, they will have the IRS investigate them and if the IRS deems that they deliberately avoided reporting income to evade paying taxes they could face criminal charges for that as well. One agency I worked for was the IRS and they do not take that lightly. It will depend upon how much the amount is they failed to report and if it looked deliberate. There is also inter-agency reporting and cross-checking of such things. Bankruptcy court is part of the Federal system. It’s worse than not filing at all because it’s essentially both perjury and tax evasion.
What the hell is wrong with these people? If you want to live a scam life stay off tv with your business. Will RHONJ still want them when they are living in that apartment? Truth is, when it’s all over they may not be able to even afford that apartment.
@ 206 Sven…. you know sometimes people just dont always like each other…it happens..no reason for you to pack up your toys and leave… Keep posting and dont sweat the unimportant things..
Yea , we would all LOVE to be LIKED by everyone, but in real life it doesn’t happen that way…. Joan is not an evil person…She is a very giving and caring person and I for one, do not think in an Okeechobee minute she meant you any harm….
So , let’s close this chapter and MOVE ON…
I’m kinda like Mikey…I try to like everyone…TILL you give me reason NOT TO…….
Hugs and Peace
The Designdiva
I could be wrong, but I was looking for homes in Wayne, NJ and what looked like Danielle’s home is up for sale. (COURT ORDERED ACCORDING TO THE LISTING) I think its selling for $1, 095,000- It likes like her home but I could be wrong!!
They filed a joint chpt 7 personal bankruptcy. They are being sued by the chapter 7 trustee for denial of discharge for false oaths committed in their bankruptcy schedules. Their personal property schedule (Schedule B) filed in the bankruptcy court is a complete joke. Go to the Bankruptcy Court in NJ. Open a pacer account and you can browse all the docs yourself. The Case No. is 09-39032-MS
https://ecf.njb.uscourts.gov
I told y’all these guys were “deadbeats”!
Sorry for another comment–how does she get to keep the house with over 11 million in debt?
@215 I’m just saying: You asked how can she/they keep the house?
In most(?) states, a person or husband/wife can keep the house, not matter what it’s value, as long as they continue to make the mortgage payments.
In bankruptcy, in Chapter 7, the home is not included in assets that may be sold or auctioned to pay off creditors. Same exception (in most states) applies to the engagement/wedding rings.
There are exceptions, though – like if money was borrowed against the existing interest in the home in the form of a loan, that secondary creditor can force a sale, sometimes. Also, contractor liens from contractors who built or renovated the home, can have a bearing because some contractors place liens on the home (at the time they do the work) for their work and can also ask for a forced foreclosure.
Did you guys see the advertisement for the auction at her house. I just found the auctioneers website. It’s the same company that auctioned off Whitney Houston’s stuff a few years back. http://www.ajwauctions.com
no one to blame but themselves, she can go and live with her parents, or his in italy???? how could you hide your pizza rest, and laundermat when it was on tv????
Bankruptcy is a big game for them. Most of the celebrities are biggest evaders of mortgages.
It infuriates me when people glam up and preen, even strut in a show off way, then can’t pay for it. Hells I could look as glamorous as Teresa if I could steal the goods. Not paying for your stuff is stealing!
This people and the whole Family are a bunch of mafia crooked people !!!!! I hope they get what they deserve. Real people that go bankrupt can’t live that life style or even close……..Fraud!!!!!!
If our Government was smart they should backtrack their trip to Italy and see witch bank account got bigger I’m sure they will find a few millions there?