Is there anyone from the cast of Real Housewives of New Jersey who isn't embroiled in legal drama? Kidding! That is totes a rhetorical question! Once again, I'm glad I have more sense than money (although given my bank account, that may not be saying much!). What is it about being rich and on reality television that leads people to make shady decisions? That question you can answer!
With all of the ladies spewing illegal and scandalous secrets on the reunion, of course we're going to be hearing more and more about these woes in the coming months. First up is the lawsuit that Jacqueline Laurita and her family are facing. It ain't pretty, y'all…that's for sure!
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Rumor Fix is reporting that Jacq is set to testify at a deposition in her family's $7 million suit. She and her husband's family are headed to bankruptcy court to face allegations that they pilfered funds from a family company and converted millions in company profits for their personal use.
At the center of the controversy is Signature Apparel Group, LLC which was founded by Jacqueline's husband Chris Laurita and his brother Joseph. The LLC filed for bankruptcy in 2010, and the Lauritas are being accused of “drain[ing] the company of all its funds and assets in order to support their families increasingly opulent lifestyle.”
According to the site, the deposition is scheduled for November 13, and those things can be grueling…so I can only imagine how Jacqueline will deal! Court documents filed accuse the housewife of “wrongful conduct … [which] contributed to and exacerbated Signature’s insolvency.”
There are some high dollar amounts being thrown around in this suit. The Lauritas are being accused (innocent until proven guilty…as a blogger I have to abide by it!) of using millions from the company for their own expenses. The family allegedly spent the following amounts for personal use:
$2 million in credit card payments
$331,637 on at least 11 leased cars including a Bentley and a Maserati
$284,793 on airline travel
$145,894 for private jet rentals
$73,793 for car services
$25,000 for an off-Broadway theater company
$16,951 in rental cars
Do what? How can you even have $2 million in credit card debt? I'm feeling better and better about my finances, traveling coach, and my ten-year-old paid off car! The bankruptcy trustee who is suing the Lauritas for misappropriating funds doesn't feel badly for the clan. He tells the site, “It frustrates me that they are so public about their lavish lifestyle and they show indifference.”
You know someone is laughing her arse off about this. I won't name names, but her last name rhymes with Few-mice…or Boo-the-clay depending on a certain housewife's pronunciation on any given day!
TELL US-HOW DO YOU THINK JACQUELINE WILL DO IN THE DEPOSITION? ARE YOU SHOCKED TO FIND OUT HOW MUCH MONEY THE LAURITAS ALLEGEDLY SPENT?
[Photo Credit: Vero Luce Photography]
UPDATE: Here is the original story Reality Tea reported on the Laurita Bankruptcy situation. Maybe that will help clear up some of the misconceptions.
From November 2011: $8 Million Dollar Fraud Lawsuit
As for the $55 million dollar number that has been floating around, to my understanding (which has no basis in bankruptcy law), the company debt in total was $55M but that number has either been reduced OR part of the bankruptcy filing wasn't challenged.
Perhaps the trustees are only acusing the Lauritas of fraudulently appropriating part of the money? As for the allegations that this number is divided between five Laurita siblings, it seems to me the that $7 million listed here pertains only to Chris and Joseph Laurita.
Regardless, bankruptcy fraud is no laughing matter and it's sleazy either way!
If any bankruptcy attorneys, etc. are out there and also have access to the UPDATED documents (likely not public at this point), please feel free to correct us or give us better information!
Last year's documents can be found via the link above.