Teresa Guidice, Joe Guidice: New Bankruptcy Documents Allege Intent to Defraud Creditors, Concealing Assets
Bankruptcy court trustee alleges Teresa hasn't disclosed Skinny Italian book deal, $250,000 book advance
If you’re filing for Chapter Seven bankruptcy claiming over $11 million in debt, chances are red flags will be raised if you claim you don’t have any bank accounts.
Other ‘red flags’ will be raised if you:
-Provide IRS Individual tax returns you never filed with the IRS,
-Don’t disclose a lucrative book deal,
-Don’t provide a copy of the contract with a Bravo production company,
-Don’t disclose all your businesses or the bank account associated with one of your businesses, or your income from the year you filed your bankruptcy petition.
New court documents filed by the Bankruptcy trustee in charge of the Teresa Guidice and Joe Guidice Chapter Seven bankruptcy–the federal court appointed trustee– include allegations by the trustee Joe and Teresa “knowingly and fraudulently” made ‘false oaths’ or ‘accounts’ when filing not only the original bankruptcy petition back in October of 2009 but made additional false ‘accounts’ on amendments filed after the original petition, and, while under oath during subsequent hearings.
The trustee filed three counts against Teresa and Joe alleging:
“Transferring, removing, destroying, mutilating, or concealing with intent to hinder, delay, or defraud creditors or the case trustee”
Joe and Teresa filed the petition in October of 2009.
The trustee filed a fifth count, an objection to the discharge based on “failure to explain satisfactorily any loss of assets or deficiency of assets to meet the defendant’s liabilities”. Meaning the trustee believes Joe and Teresa shouldn’t get that “fresh start”, wiping out their massive debt.
The trustee stated, to date, Teresa and Joe didn’t include in their ‘multiple amendments’ any info related to Teresa’s Skinny Italian cookbook deal, the $250,000 advance, the publishing deal with Hyperion, Teresa’s business, TG Fabulious LLC, and Joe’s interest in one of Joe’s properties.
Noted in the documents by the trustee, Teresa and Joe submitted 2006, 2007, and 2008 IRS Individual tax returns which the IRS informed the trustee had never been filed with the IRS. Not a good idea when you’re filing a petition in a federal bankruptcy court case.
While the allegation involves IRS Individual Income Tax Returns, the court document doesn’t state whether Joe and Teresa failed to file joint returns with the IRS. Even so, it’s interesting Joe and Teresa provided Individual tax returns not filed with the IRS when filing the bankruptcy petition, a petition in which Joe and Teresa claimed they were no longer able to pay their debts. Based on the documents, the trustee focused on the Guidice’s original petition financial statement where Joe and Teresa claimed Joe earned over a half a million bucks in 2008. According to the trustee, Joe and Teresa failed to provide their 2009 gross income on the financial statement but, and this is pretty BIG BUT, the financial statement provided by Joe and Teresa, according to the trustee, Joe earned enough dough to stay ahead of their ‘debts’. And, Teresa had ‘income’ from a previously undisclosed business, TG Fabulicious LLC, an online boutique incorporated in 2009, owned by Teresa, plus any earnings Teresa made associated with starring on Real Housewives of New Jersey.
Part of the latest court documents filed by the trustee, the allegation Teresa and Joe hid assets. When filing the original petition Teresa stated she didn’t ‘own any business interests’. Joe forgot to mention a couple of other business “interests”. Along with Teresa’s business, the disclosure Teresa’s business had a bank account. The trustee demanded Teresa provide a copy of her Bravo contract. In the latest court document, the claim Teresa, just prior to filing the petition in October 2009, “worked one month” for Bravo earning over $7,000 in salary. This was news, according to the original petition, Bravo paid Teresa $3,333,333–who could forget that number–a month. Connecting the dots, the $3,333,333 was from 2008, the year the Bravo production company filmed the first season. The over $7,000 figure, from 2009 which seems to indicate a 50% Bravo raise. On September 1st, TMZ reported ‘New Jersey Housewife’ — Double My Pay or I’ll Quit!:
Sources connected to the show tell us “several of the women are no longer satisfied with their deals” and will not show up to begin shooting Season 3 on September 3rd — unless they get new contracts worth significantly more moolah.
We’re told Teresa — who’s financial issues have been a major plot point on the show — is the most adamant about the contract situation … asking for a cut of the DVD and merchandise sales … freedom to make more paid appearances … and her salary DOUBLED.
A reason why Teresa and the other unnamed housewives may allegedly strike before filming of season three of Real Housewives for Bravo begins, the spectacular ratings of Real Housewives of New Jersey, averaging over three million viewers a week. Meanwhile, according to Andrea Rodgers, D.C.’s AskMissa, the Real Housewives of DC cast are purportedly paid a whopping $50,000 per episode. The ratings for Bravo’s newest Real Housewives franchise, RHODC, averages 1.6 million viewers a week.
Danielle Staub Leaving Real Housewives Confirmed by Bravo
Michaele Salahi: Real Housewives of DC Poser Poses for Playboy
Real Housewives of New Jersey: Bravo Announces Season Three
Cop Without a Badge Not Danielle Staub’s New Reality Show
Real Housewives of New Jersey Final Episode: Bravo’s It’s Finished Message to Danielle?
Teresa Guidice Hubby Joe Guidice: Judge Reduces Joe’s DWI Sentence
Real Housewives of DC Catherine Ommanney in Divorce Court?
Image – Red Flags
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Teresa cannot logically claim she knew nothing about the financial shenanigans, when she clearly knew enough to lie about them under oath repeatedly. Combine that with her repeated acts of violence, and it paints a rather ugly picture.
Bravo should just remove her from the show, period.
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