Teresa Giudice Bankruptcy

Teresa Giudice hawks Fabellini

Despite a court report stipulating that federal prosecutors were lawfully allowed to seize Teresa Giudice‘s assets to satisfy her restitution debts, Teresa’s out-spoken attorney James L. Leonard Jr. denies that’s that the case!

Teresa owes more than $400,000 in federal restitution as part of her sentence for bankruptcy fraud and conspiracy to commit mail and wire fraud. A court order showed that prosecutors made a deal with the Real Housewives Of New Jersey star to turn over a 25% portion of her Bravo paychecks, along with 50% of her income from a rental property she owns, in addition to seizing her personal assets, such as her 2005 Maserati  and furniture from her NJ mansion (currently in foreclosure and on the market.)

Mr. Leonard explains that contrary to reports, that deal was arranged by Judge Esther Salas and prosecutors as a ‘just in case’ Teresa didn’t make scheduled payments – which she has been. 


Reality TV News Teresa Giudice headed to Danbury

Teresa Giudice is broker than a joke and while she’s in prison she’s not able to earn any money. So what’s a Real Housewives Of New Jersey star to do? Give the feds her worldly possessions!

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.


teresa giudice is sad and depressed before prison

UPDATE:  This has been confirmed as a FALSE REPORT.   Vicky Hyman of NJ.com writes, “Matt Reilly, the U.S. Attorney’s Office spokesman, says his office is continuing to work with the couple to schedule repayment, and has not ordered any such seizure. Anyone went over there under official capacity, it would be under us.'” 

The denials continue to pour in regarding an alleged raid on the home of Teresa and Joe Giudice.  See the links below.  The Sheriff’s office, the US Attorney’s office, Teresa’s lawyer, Joe’s lawyer and more have all firmly stated that no such occurrence took place and say the stories are 100% fabricated.

Links below:

dina's psychic gives teresa a reading

Teresa Giudice is a victim yet again!!  The Real Housewives of New Jersey star is suing her bankruptcy lawyer for malpractice and is demanding $5 million dollars in damages. 

Teresa claims that her bankruptcy lawyer flubbed their paperwork and failed to disclose things on the documentation.   In the suit Teresa says that it was his failure to include important things like rental income, other bank accounts, etc and that’s the reason the investigation got triggered. 

wwhl andy and giudices

Well I know what I’ll be doing tomorrow night! Bravo seems to be cashing in on everything Giudice now that the stars of Real Housewives of New Jersey are heading to the clink. I have to admit, I am still a bit of shock to think of Teresa Giudice serving actual time. Something tells me that Juicy Joe wasn’t surprised to hear his sentence. I feel like he’s been dodging the law for so long, it has to be a bit of relief to get to stop running.

Of course, the Giudices (and the network that introduced them to the world) want to proactively handle the insane publicity that is sure to intensify as we countdown to Tre’s lock-up. Andy Cohen is no dummy. He’s going to milk this for all it’s worth, and he’s already teasing the Giudices’ Monday appearance in the clubhouse on the heels of Teresa canceling her public appearances.


Teresa And Joe Giudice Court Appearance

Yesterday Teresa Giudice was sentenced to 15 months in prison, while her husband Joe Giudice received a 41 month sentence for federal fraud charges of bankruptcy fraud, mail fraud, and conspiracy to commit wire fraud. The Judge decided to give the couple staggered sentences allowing one of them to always be at home with their 4 daughters. 

Teresa will begin serving her sentence first, on January 5th, 2015, so she will be able to spend the holidays with her daughters. Teresa and Joe owe $414,588 in restitution as a couple and each face two-years of supervised release following prison. 

Below we give a rundown on the course of the day and what led to the Real Housewives Of New Jersey stars’ sentences. 


Teresa and Joe Giudice

Happy Sentencing Day! Before receiving their federal fraud sentence, Teresa Giudice and Joe Giudice settled their bankruptcy – finally. But unfortunately the news is not good, the judge denied the bankruptcy discharge which mean the case is closed now, and it’s as if the couple never filed for for bankruptcy at all and must repay their debts the old-fashioned way! 

The Real Housewives Of New Jersey stars filed papers to have their bankruptcy closed and it’s now a done deal.  They’ll be able to hold on to some assets such as their home, which the couple was allowed to keep and is now selling


teresa giudice selling new jersey mansion

Teresa Giudice visited a psychic on Real Housewives Of New Jersey, and that psychic saw her living in a smaller house. Finally facing the writing on the wall, Teresa and Joe Giudice have decided to unload their museum of tackiness! 

Teresa and Joe were able to hold onto their mansion during their bankruptcy filing after the trustee found it to be worth less than than the couple owed and not a viable option to satisfy outstanding debts. With their bankruptcy dismissed and the couple still owing $13.5 million as if they never filed, and their sentencing scheduled for October 2nd, the couple needs to do all they can to lessen their financial burden. 


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