Teresa & Joe Giudice Freaking Out About Fraud Indictment! [Details]

Rucuss staffAugust 1, 2013

Real Housewives of New Jersey star Teresa Guidice and her husband Joe Guidice has been federally indicted on 39-counts of financial fraud.

The Giudices were charged Monday in a 39-count indictment with conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud, according to the indictment.

The fraud was allegedly committed between September 2001 and September 2008. During that time, Teresa and Joe allegedly submitted fraudulent mortgage and loan applications. For example, in September 2001 she applied for a $121,500 mortgage loan by falsely claiming she was an executive assistant and submitted fake W-2 forms and fake paystubs.

Teresa and Joe are also accused of hiding their assets during their 2009 bankruptcy petition. They filed for Chapter 7 in October 2009 and allegedly failed to disclose accurate information about their businesses, rental properties and Teresa’s “Real Housewives” salary.

In addition, Joe failed to file tax returns from 2004 through 2008, even though his income topped $990,000.

Teresa and Joe both plan to plead Not Guilty and it’s clear Teresa is going to try and dumb her way out of this because she has a lot to lose in going to prison.

“Teresa and Joe are a nervous wreck,” our source told RealityTea.com. “Joe’s parents went to court with him and Teresa today. Things are bad.”

The source continued, “Teresa, for the first time, is truly scared. Joe is holding up the best he can. Despite the bad news and terrible situation, Teresa’s family is still supportive. Teresa has endless support from her parents and in-laws,” our source explains. “Teresa’s parents are taking the news very hard as well. Joe Giduice is a son to them, even more so than their own son.”

Photos via Reality Tea and Blog.zap2it.com

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