Teresa and Joe Guidice filed for bankruptcy with claims of owing over 10 million in debt. According to The New York Post, Teresa and Joe were reported to have accrued over a $100,000 debt across eight credit cards. Subsequently, the couple lost their $279,000 four-bedroom Jersey Shore house and a $200,000 home in New Jersey. Declaring bankruptcy, however, did very little to help Teresa and Joe’s legal troubles as they soon found themselves in hot water again.
Four years later, the RHONJ star and her then-husband were charged with 39 counts of fraud associated with a 2001 wire fraud conspiracy believed to have lasted many years. As Forbes reported, the couple repeatedly took out loans and mortgages with fraudulent applications and fake tax documents. “Today is a most difficult day for our family,” Teresa said in a statement following the indictment, per E! News. “I am committed to my family and intend to maintain our lives in the best way possible, which includes continuing my career. As a result, I am hopeful that we will resolve this matter with the Government as quickly as possible.”
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Teresa and Joe would later plead guilty to the multiple charges against them and were subsequently sentenced to 15 and 41 months in prison each. “I have heard you. I need to live to do things for myself … It’s time for me to wake up … I will make this right no matter what it takes,” Teresa said to the court after her sentencing, per Page Six.
