Real Housewives of NJ Stars Teresa & Joe Guidice plead to BK fraud

J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization
Posted on Mar 04, 2014

Teresa and Joe Guidice, stars of the Bravo channel's "Real Housewives of New Jersey" both pleaded guilty to several federal charges involving mortgage and bankruptcy fraud. The bankruptcy fraud was committed during their chapter 7 bankruptcy case. 

According to the allegations in the indictment in the case, among other things, they had presented false loan applications and false W-2's and tax returns to obtain milllons of dollars in residential and commercial mortgages, and then filed bankruptcy and made false oaths and failed to disclose assets.

Sentencing is set for July 8 for Joe Guidice, who is expected to receive prison time. As an Italian national, he could also be deported after he serves his sentence, which could be from 37 to 46 months. Sentencing guidelines indicate that Teresa Guidice may receive less than two year in prison.

Sources: nj.com, US Dept of Justice

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