Real Housewife in Real Trouble with Bankruptcy Court
Real Housewives of New Jersey star Teresa Guidice has run into real trouble with the U.S. Bankruptcy Court. On Sept. 2, the bankruptcy trustee in her Chapter 7 bankruptcy case filed a Complaint Objecting to Discharge, accusing Teresa and her husband Joe of perjury and fraud.
The trustee believes the couple failed to disclose pertinent financial information and lied about their assets. In the court filing, U.S. Bankruptcy Trustee Roberta A. DeAngelis said that the couple did not include earnings from Teresa’s best-selling cookbook, “Skinny Italian,” or from her popular website, two significant sources of income.
DeAngelis claims that Teresa received an initial advance on her cookbook of $250,000, another $30,000 advance and royalties, none of which were reported in the initial bankruptcy filing last November. Teresa’s TGFabulicious.com website provided another $100,000 in earnings during the six months after the filing.
According to a story at CBSNews.com, the complaint alleges that the Guidices “have concealed, destroyed, mutilated, falsified, or failed to keep or preserve recorded information from which their financial condition or business transactions might be ascertained."
DeAngelis has requested that the couple’s bankruptcy petition be denied because of their alleged failure to disclose financial information and various falsehoods contained within their Chapter 7 bankruptcy filing.
As this story illustrates, failing to properly disclose all assets can have serious consequences when filing for bankruptcy protection. Our Jacksonville bankruptcy law firm can help you understand and following the proper procedures for filing bankruptcy in Florida.
Greg Gilbert
Keith Maynard
