Joe and Teresa Giudice federal court drama: freed on $1 million bond for federal fraud charges


Teresa and Joe Giudice arrived in federal court today (Tuesday) to face 39 counts of fraud, including bankruptcy fraud, mail and wire fraud, making false statements on loan applications, and failing to file taxes.

The couple arrived at the Martin Luther King, Jr. Courthouse in Newark, N.J. to a swarm of media. According E! News, Joe got into a slight altercation with a paparazzo. “At one point, Teresa’s hubby even slapped a photographer’s camera, prompting a warning from his attorney not to do that.”

Teresa’s lawyer has said that she will plead not guilty, but Joe’s lawyer has so far failed to comment. They were able to leave the courthouse after being freed on $1 million bond ($500,000 each.)

Prosecutors claim the Giudices falsified W-2s, bank statements, and income tax returns to make it look like they made more money than they did to get $4.6 million in mortgages, home equity credit withdrawals, and construction loans in the years prior to being cast on The Real Housewives of New Jersey. After they were received some success from The Real Housewives of New Jersey, they filed for bankruptcy. The court alleges that when they filed for bankruptcy they hid some of their assets from the bankruptcy court.

Joe also did not file tax returns for the years 2004-08, during which period he made about $1 million total, but his income varied wildly from year to year. According to the indictment, he made $323,481 in 2005 and $26,194 in 2006.

They are facing up to 50 years in jail.

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