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.
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Teresa handed over $200,000 before heading to the slammer (reportedly fronted by Bravo in exchange for her WWHL tell-all), but the bulk of the balance remains unpaid. The feds are entitled to get their money no matter what – which required Teresa and Joe Giudice to make a deal allowing prosecutors to have as many of their assets as the feds deemed worthy. Starting with Joe’s Maserati Quattroporte.
According to NJ.com, part of the the arrangement Teresa and Joe made stipulates federal prosecutors will sell off furniture from their mansion, which is currently on the market for $2.99 million, as it has lapsed, once again, into foreclosure. The Giudices must also with hand over 50% of the income they receive from their Lincoln Park, NJ rental property (also for sale). Their Jersey Shore home was auctioned off this spring. I’m thinking that furniture is worth less than $0, or about as much as Teresa’s polyester tiger and leopard-print wardrobe. So, basically YARDSALE AT THE GIUDICES!!
In addition Teresa is shelling out a portion of her Bravo earnings – to be exact, Bravo will withhold “25 percent of any monies held on behalf of, or payable to Teresa Giudice, and pay the sum to the plaintiff.”
Now I hate to be the bearer of bad news, but I’m thinking this confirms suspicions that Teresa WILL be returning to RHONJ upon her release from prison. Teresa’s attorney has said she is already in negotiations with the network to film the 7th season following her release and other sources have leaked that Teresa filmed before she left for prison, and the network has been conducting top secret filming of Joe and kids, which will spiral into a Giudice family spinoff once Teresa is released.
According to her attorney Teresa will be released to home arrest around Christmas-time of this year, although her sentence officially ends in February 2016. When Teresa returns home Joe will begin serving a 41-month sentence, although he has not been granted a prison assignment yet. The Giudices still have not satisfied their bankruptcy debt of $13 million after their bankruptcy discharge was denied. They have since filed a suit against their bankruptcy attorneys and probably plan to re-file.
TELL US – ARE THE FEDS BEING TOO DEMANDING OF TERESA AND JOE OR DO THEY NEED PAY UP!
[Photo Credit: Bravo]