Teresa and Joe Giudice Tax Evasion - Lies Exposed from Real Housewives of New Jersey Lifestyle?
Teresa and Joe Giudice were hit with tax evasion charges last year along with a host of other complaints from the government and will now likely serve jail time for their crimes.
On July 29 of last year it was announced that the Real Housewives of New Jersey reality TV stars were indicted on 39 charges related to money fraud.
In March of this year, the Giudices pleaded guilty to a string of financial frauds and their final sentencing is scheduled for July 2014, in only a few months.
Teresa Giudice, 41, faces up to 27 months in jail, while her husband Joe, 43, faces up to 46 months.
TMZ has a new note on the couple and their financial woes - they have settled their bankruptcy case.
Joe and Teresa were in massive debt, and had no money remaining.
It appears they only paid a total $7500 to creditors out of all of the money they owe them and thanks to their bankruptcy case will eliminate $13 million in debt.
TMZ notes that their lavish lifestyle was all built on a lie.
Here is the tally, per TMZ:
They have a $1.7 million house with only $140K in equity. There are 2 other properties where they have NO equity.
They have a Maserati, an Escalade, a Ford 350 and have NO equity in them. They also have toys -- a Sea-Doo boat, a Kawasaki quad, 2 go carts and other stuff -- no equity.
5 banks get shut out and lose the money they loaned to the couple.
The report notes that all of the banks who will get nothing loaned the couple at least $1 million and "Wachovia Bank got shafted to the tune of $5.3 million," reports TMZ.
See Photos: Hot Pics
Got an opinion? Share your thoughts now.
More Hot Pics Stories
Hot Pics Photo Gallery
Click photo to enlarge.
See More Photos In The Hot Pics Photo Gallery