Real Housewives of New Jersey stars Teresa and Giuseppe “Joe” Giudice may face prison time after pleading guilty to federal fraud charges, hiding income and lying during a bankruptcy hearing. The Courier-Post reports:
Both pleaded guilty to conspiracy to commit mail and wire fraud and three types of bankruptcy fraud. Joe Giudice also pleaded guilty to failing to file a tax return for 2004, though he acknowledged he didn’t file taxes on income of approximately $1 million between 2004 and 2008. …
The couple was charged last year with exaggerating their income while applying for loans before their show debuted in 2009, then hiding their fortunes in a bankruptcy filing after their first season aired. The couple filed for bankruptcy in 2009 and claimed they owed $11 million, including $2.2 million in mortgages, $13,000 to Neiman Marcus and Nordstrom and nearly $12,000 to a fertility clinic, according to court documents.
On Tuesday, they admitted submitting fraudulent mortgage and loan applications and fabricating tax returns and W-2 forms.
In a statement read by Teresa's lawyer, the reality star and entrepreneur says she owns up to "a series of mistakes I made several years ago ... I will describe the choices I made, continue to take responsibility for my decisions and express my remorse to Judge Salas and the public. I am heartbroken that this is affecting my family — especially my four young daughters, who mean more to me than anything in the world.”
Joe could get 37 to 66 months, and Teresa is looking at a possible 21 to 27 months, though their lawyer says they will seek probation. More on the story here.