Teresa claimed to be employed as an executive assistant for Modern Era Investment Corp making $3,750 a month. At the time (September 2001), she was actually unemployed. Both Teresa and Joe are charged with falsifying federal documents (a HUGE no no) including income tax returns and fake w-2 forms as well as fake pay stubs. Based on the falsified document, they obtained a mortgage loan for $121,500.
But wait, there is more. In June of 2004, at another bank, Teresa claimed she was the owner of G&G Stucco and made $14,750 a month and had made that amount for seven years. Based on that line of bullshit, she was given a mortgage for $20,200. How dumb do you have to be to break a Brazilian federal laws for $20K? Teresa was unemployed at the time.
But wait, there is more. In March of 2005, at yet a third bank, Teresa provides false documents again stating she is the self-employed owner of G&G Stucco, and that she makes $12,100 a month and has been employed in that capacity for six years. Despite still being unemployed, she was given a loan for the amount of $151,550. That’s a lot of shoes and leopard attire.
BUT WAIT, THERE IS MORE! EDITED HERE TO ADD TWO MORE CHARGES EACH!
According to a statement from the U.S. Attorney’s Office in New Jersey, today’s “additional counts stem from a $361,250 mortgage loan that Teresa Giudice obtained in July 2005. In the course of obtaining the loan, she and (her husband) prepared a loan application which falsely stated that Teresa Giudice was employed as a realtor and that she had a monthly salary of $15,000. Teresa Giudice was not employed outside the home at the time.”
But wait, there is more. In November of 2005, based on more falsified federal documents including w-2s and income tax returns, the two Einsteins obtained. from yet another bank a Builders Loan for $800,000. My mind is boggled. You might could get out of ONE of these with remorse and a very expensive attorney with probation, restitution and a year or two of time. But these two are going DOWN.
But wait. There is more. In December of 2006, the morons falsified all sorts of paperwork AGAIN and received a home equity line of credit. Between December of 2006 and February 2009 the two withdrew $251,360.
But wait, there is more. They once again wandered into Wachovia in February of 2007. Using fake W2s and fake tax returns, they got ANOTHER home equity line of credit for $170,252.
But Wait, There is more. In February 2008, since things seemed to be so easy, the two idiots wandered into another bank and got a construction loan for $1,770,000. This was the year before the show aired but may have been filming at this time.
But wait, there is more. In July of 2008 they made up more fraudulent paperwork including federal documents and claimed they had $500,000 in the bank. In September they received ANOTHER construction loan for $1,720,000. Remember in season one when Teresa was paying cash for things like furniture and big ticket items? Now we know why she was so into paying with cash.
But wait, there is more. October 29, 2009 The two apply for bankruptcy. They can’t pay back all that money! Both testified under oath, under penalty of perjury as to their assets and liabilities. Both bankruptcies were denied. However, despite the bankruptcies not going forward, it was found that Teresa lied under oath. Teresa failed to disclose her business TG Fabulicious LLC as an asset. Joe also lied. Apparently he has a company called Name Brand Clothing an LLC. That he failed to mention. But wait, there is more… Joe also had another LLC called 1601 Maple Avenue which was a property (gas station) that he collected the rent on. Joe also had a corporation called Turbo Fuel that was solely his as well. All four of these companies had their own bank accounts which were also concealed during the bankruptcy proceedings. Teresa also bought a rental property (residential) in Lincoln Park. Joe signed a rental agreement and the tenants paid them $42, 968 from April 2009 to January 2012.
From June of 2008 until October of 2009, TERESA MADE $110,677 in total income from RHONJ, Fabulicious, and Magazine interviews and appearance.
For Season TWO Teresa and Joe (husbands not really paid, the wives check is the couples contract) signed a contract for $110,000.
Count One: Conspiracy to commit mail and wire fraud.
Counts Two-Six Bank Fraud
Counts Seven-Eleven Loan Application Fraud
Count Twelve Bankruptcy Fraud
Counts 13-18 Bankruptcy Fraud- Concealment
Counts 19-24 Bankruptcy Fraud- False Oaths (count is for both of them, two are solely against Teresa, three are solely against Joe).
Counts 25-34 Bankruptcy Fraud -False Declarations
Count 35 Failure to make a Tax Return
Joe made $243,919 in 2004 but did not file taxes.
Count 36 Failure to make a Tax Return
Joe made $323,481 in 2005 but did not file taxes.
Count 37 Failure to make a Tax Return
Joe made $26,194 in 2006 but did not file taxes. This is not a typo on my part, what the heck happened in 2006? Maybe it’s a typo in the document?
Count 38 Failure to 2make a Tax Return
Joe made $377,423 in 2007 but did not file taxes.
Count 39 Failure to make a Tax Return
Joe made $25,442 in 2008 but did not file taxes.
The Season One contract didn’t have Joe on it. I have always heard that the husbands “get paid through the wives.” (From a reliable Bravo source) I didn’t think they actually signed a contract. If Joe did sign a contract on Season Two agreeing to be on a certain number of episodes, that would make sense that in 2009 he suddenly started filing taxes. Sort of. It seems to me that the husbands sign RELEASES but not CONTRACTS.
So that is it in a nutshell. I think both of them will be doing jail time. Who will take the kids? Melissa?