10 Notorious Tax Cheats: Real Housewives Stars Teresa And Joe Giudice Faced A Staggering 50 Years

 

The real stars of Real Housewives of New Jersey, Teresa Giudice and Giuseppe “Joe” Giudice, were indicted in 2013 on 39 counts of conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud. The couple originally pleaded not guilty claiming they were unfairly targeted as celebrities.  The indictment alleged that they intentionally concealed businesses they owned and concealed their income. There were separate charges against Joe for failure to file federal income tax returns for 2004 through 2008.

They eventually took a plea deal that included jail time for each, staggered so one parent could stay home with their four children. The tax claims were less serious than the others, though they were related. To get loans, the couple claimed they were employed, receiving substantial salaries when they weren’t. They used fake Forms W-2 and fake pay-stubs. In their 2009 bankruptcy, they also concealed businesses they owned and hid their rental income. Teresa’s income from the show, website sales, and her personal and magazine appearances also were omitted. When Season 2 of Real Housewives of New Jersey looked rosy, they didn’t mention that money either.

Fans may not have expected the guilty plea, but as criminal defendants, the couple faced a staggering amount of jail time if they were convicted on all counts. Without the plea, the couple faced up to 50 years of prison time and millions of dollars in fines. Here is a tally of their potential jail terms:

  • The charge for conspiracy to commit mail and wire fraud can carry up to 20 years in prison and a $250,000 fine.
  • Bank fraud and loan application fraud counts each carry up to 30 years in prison and a $1 million fine.
  • The bankruptcy fraud counts each carry up to five years in prison and a $250,000 fine.
  • Each failure to file a tax return count can carry up to one year in prison and a $100,000 fine.

 

Article From:- https://www.forbes.com

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