NJ Housewife Teresa Giudice Is In MORE Financial Trouble!

Fri, July 23, 2010 12:01pm EDT by 8 Comments
Getty Images

Getty Images

Not only is Teresa’s mansion in foreclosure but now she and her family are under investigation for concealing financial records!

Teresa Giudice needs to start balancing her checkbook! The Real Housewives of New Jersey star not only filed for bankruptcy in the amount of $11 million but now the bank believes the Giudices have been hiding their true financial records!

According to documents filed June 30, Teresa and her husband Joe allegedly failed to accurately list the money they made from several of their businesses! Remember the pizza parlor Teresa and Joe flaunted this season? It turns out they never listed their profits, along with Teresa’s clothing line TG Fabulicious LLC, and her cookbook Skinny Italian. The Wall Street Journal reports the Giudices also “undervalued” several luxury assets, like a pool table which they listed at $1,000 and their wedding bands which they say only cost them $400. Who do they think they’re fooling?!

John Sywilok, the trustee responsible for distributing the Giudices’ assets to creditors, wants to hold a public auction at the family’s ostentatious Towaco, NJ mansion.

Teresa’s attorney, Jim Kridel, says all of these allegations are false and that there’s no need for an auction.

“You can’t sell used, personal property for the sticker price,” says Jim. “A $5,000 chandelier won’t sell for $5,000. Nobody will buy a used mattress. The real issue in bankruptcy is, what’s the value of everything? And at the time of the bankruptcy, these things didn’t have any value.”

Doubtful, but let’s hope Teresa and Joe can get their finances in order before they have to move into one of Joe’s apartments.

– Chloe Melas

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robert

Posted at 9:14 PM on October 19, 2010  

there kid needs some serious dicipline. terrible parenting

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RuthAnn

Posted at 2:57 AM on July 25, 2010  

Teresa, Your anger is not about Danielle. Your anger is about yourself and your phony life you live. I wish I was Danielle,For I would have smacked you across your ugly face.

Your from Patterson HAHA . Honey you sounded like such a fool. No class money spending ass. Oh and Caroline sees you the same way. Watch out

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MIDGE

Posted at 12:52 PM on July 24, 2010  

Teresa and her fat repulisive husband seem to be nothing more than a pair of grifters. Who carrie around one hundred thousand in cash? i hop the IRS throws their overfed butts in jail!

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Suzee

Posted at 7:53 PM on July 23, 2010  

i would be so angry, if they get away with all this cheating. what a hot mess! they are trying to rip people off. they paid cash for everything…that’s a red flag right there.

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Alli

Posted at 2:00 PM on July 23, 2010  

this woman is so stupid haha i hope she has to move into one of those apartments. live a normal life for once.

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RuthAnn

Posted at 3:03 AM on July 25, 2010  

Yea me too! Bring this Bitch back to reality. Not a show either. I wish she would pull that on a real Jersey Girl. I would not have let her start with me from the get go. I would love to kick her ass on National TV. Bring it on BITCH!!! I want you.

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Jason Rhodes

Posted at 12:35 PM on July 23, 2010  

This is so funny. This lady has wasted so much time on Daniel, she didnt see her own mess. This is what they get. I don’t feel sorry for this family. Follow me on Twitter @Hollywoodjason

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Todd

Posted at 12:24 PM on July 23, 2010  

How is it that people like her with that much money squander it all and then try and get away with it? If I had 11 miliion you would never hear about me.

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