Teresa relinquished her 2005 Maserati (why she still had that when she was $13 million in debt is a complete mystery!) along with a portion of her RHONJ paychecks to satisfy her restitution debts to the feds.
On Friday, federal prosecutors obtained the rights to seize the Giudice’s property or cash in order to satisfy their outstanding restitution debts. Teresa owes the federal government $414,588 as part of her sentence for mortgage and bankruptcy fraud.
Oy. I cannot decide which of these headlines is more “bang my head against a brick wall” worthy. Ugh. Probably the second one, because the first comes from Teresa‘s lawyer, who’s being paid (maybe) to say things like Teresa’s “strength and resolve” amaze him. <side eye> And there’s more where that came from.
“December 23rd is her release date,” Teresa‘s lawyer, James J. Leonard, told E! News. “There is a possibility that could be moved forward. That’s something we’re actively working on. She will be home for Christmas. I know that means the world to her. Christmas in her house is a big event. When she gets out, she will be on what they consider home confinement, but she will not ultimately be confined to her home. She’ll be free to travel about with certain restrictions until February 5th.” If released on December 23rd, Teresa will have spent 11 months and 18 days of her 15-month sentence behind bars.
Last week, reports surfaced thatJoe & Teresa Giudice’s New Jersey “mansion” was going into foreclosure, and this week things are looking even worse for the convicted felons of Real Housewives of New Jersey. According to Vicky Hyman at NJ.com, “The canal-front beach house on the Jersey Shore owned by Teresa and Joe Giudice will be auctioned May 19 by the Ocean County Sheriff’s office.” Officials say, “Bidding for the five-bedroom, two-bath home will start at $100 and increase in increments of $1,000.” That’s a just a bit lower than the $347,000 the Giudices paid for the Manahawkin home in 2005.
NJ.com also reports that Teresa and Joe currently have not one, not two, but THREE mortgages out on their Jersey Shore home. “They tried to sell it last year for $315,000, just before their fraud sentencing,” the website said. That didn’t pan out, apparently. “The foreclosure proceeding was initiated by America’s Servicing Company, which holds the first mortgage on the home,” they add.
“Community Bank of Bergen County filed a notice of foreclosure in Morris County Superior Court Wednesday on their Indian Lane property,” according to court papers obtained by NJ Advance Media on NJ.com. In their 2010 bankruptcy filing, Community Bank was listed as one of the Giudice’s creditors. The bankruptcy ploy was scrapped soon afterward though: “The couple eventually abandoned their bankruptcy claim after the trustee representing their creditors alleged they hid assets and income, which led to a federal prosecution.” And we all know where that whole bizniss got Juicy & Tre now.
Meanwhile, Teresa is desperate to liquidate her Montville, NJ mansion to repay her bankruptcy debts. Teresa and Joe initially listed their home for $3.999 million last fall, then dropped the price by $500,00 and again by half a million in January. With no takers they pulled the 10,044-square-foot home from the market, but have now relisted it again at $2.9 million.
New Jersey based reporter Vicky Hyman was in the courtroom and shared a play by play of the events happening. In a nutshell, Joe must pay a $10,000 fine, have his license suspended for two years and will serve 18 months in prison (to run concurrent with his federal sentence).
This week we’re seeing a lot of new interviews from The Real Housewives of New Jersey star Joe Giudice. He opened up for the latest issue of Us Weekly and he also sat down with the crew from Extra, too. Joe’s talking about Teresa Giudice’s life in prison as well as how the family is handling her absence.
Extra sat down with Joe in the family kitchen to talk about their life and Teresa’s, with Joe calling her “an amazing woman.” Joe and the girls hung out with the TV crew and played a game with dad during the interview. Joe shared that no matter how strong you try to be, you break down.