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Real Housewives of NJ: Teresa Giudice & Hubby Accused Of Lying To Bankruptcy Court

Here is a helpful hint to those who are filing for bankruptcy. Do not, and I repeat, do not flaunt your wealth on national TV. Now to many, this would be a no brainer. If you are pleading poverty you don’t spend a fortune on your daughter’s birthday party, hold over the top house warming parties or go on shopping sprees at the upscale boutique Posche.  You just don’t. But Teresa Giudice and husband Joe Giudice of The Real Housewives of New Jersey, they didn’t get that memo.  The two have famously filed for bankruptcy protection but things aren’t going so well…the two have been charged with lying under oath by the bankruptcy court trustee. Oops!  So what did they lie about?

They didn’t include all their revenue streams. The couple forgot to include their interests in a Laundromat, a pizza place, Teresa’s clothing and hair accessory company TG Fabulicious (that sells Happy Wife Happy Life tees), and Teresa’s best selling cookbook “Skinny Italian.”  And not only that, but the trustee says that they fibbed about their incomes, their expenses and their other assets.

“Teresa and Joe stated on the petition that their monthly income at the time when they filed the filed petition was $16,583.33 which included $3,250 a month in income for Joe, $3,333.33 paid to Teresa by Bravo, and $10,000 from “family members”. Included the petition Teresa and Joe’s monthly expenses, $16,582.00 which included a $12,362 house payment. According to Teresa and Joe’s monthly take home pay and expenses, Joe and Teresa were left with $1.33 after paying their expenses.” (source)

And they are seen on the show spending far more than $1.33 a month. And here’s a bummer for Joe and Teresa. On August 22nd, there will be an auction of their belongings at their over the top mansion which will include items like their furnishings, accessories, tools and a boat.  Sure, perhaps they aren’t in foreclosure as Teresa adamantly stated to Danille in last week’s episode. They’ll have their house, but there just won’t be anything in it! Hopefully the girls will be able to keep their princess beds.

Photo: BravoTV

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