Teresa & Joe Giudice Ordered To Keep Business Finances Separate

Posted on Oct 13 2014 - 3:01pm by BeachSpin

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As the post sentencing dust settles, and Joe and Teresa Giudice begin to adjust to their newly decided future, some interesting details from the decision are beginning to emerge. “The Real Housewives of New Jersey” star and her husband were recently sentenced to federal prison for numerous counts of fraud, and according to court documents, there are some detailed directions that the judge expects to be followed. 

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The judge has ordered Joe and Teresa’s business accounts to be kept completely separate. So checks from Bravo, cookbook sales, bar swill royalties, and appearance fees have to be in one account…and whatever the heck Joe does to make money has to be in another. In addition, the Giudices have been ordered to pay over $400,000 in restitution. Teresa has been forbidden to pay Joe’s debt and vice versa. Joe might need an extra gallon of wine, AND a Xanax to swallow that one.  

Another detail that has been reported is that “anonymous letters and phone calls from the public in regards to sentencing” were not considered by the judge. I found the need to report this nugget utterly ridiculous…but I suppose that the glaringly obvious needed to be stated. Can you imagine Judge Salas reading the transcripts of ranting “Housewives” viewers?
That is your laugh for the day, folks…have fun imagining THAT visual.

 

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I am a coastal girl who loves the outdoors, and writing about the sneaky and silly side of reality TV. My bio is short, but my snark is endless, and I love writing for the sharpest posters in the world. Follow me on Facebook

  • BuckJohnson

    This is so they can truly see where the money is coming from and where it’s going.

    • Babson_Chick

      yep – no more co-mingling

  • WestCoastFeed

    Beach, do you have the documents? It just sounds to me like there should be a whole lot more than just an order to keep their business accounts separate from their personal accounts. Was a payment plan set up for restitution? Or is there a hearing date to set that up? What about Joe’s alcohol use while he is waiting to serve his sentence?

    • BeachSpin

      Yes WCF…AATT has the documents, and a more in depth article is soon to come..stay tuned!

      • WestCoastFeed

        Thanks, Beach. It just didn’t seem right that the court would only have addressed how they had to handle their financial accounts in the future. Especially since Joe is to all extents and purposes, just out on extended bail for a year as it seemed to stand.

  • Norrth

    Hee hee… bar swill!

  • nan/4

    He has no income. I don’t understand. Does that mean that her money has to be kept separate from his? Then, where will he get money to live? Who will hire a convicted felon? How does she get to keep that income when they owe so much money? I’m confused!!! HELP! LOL 😉

    • MorningYawn

      His rental properties of course! The ones that earn $0!

      • WestCoastFeed

        He actually does own rental property. And he does know how to do stone and stucco work. He should be making some income.

        • nan/4

          For the sake of his children, I hope so.

          • WestCoastFeed

            Back when they filed for bankruptcy he claimed to be making around $80K per year. Of course, that may have been the max he could claim to be making in order to qualify, for all I know. I think they could manage on $80K a year if they find reasonably priced housing.

      • nan/4

        LOLOLLLLL!!!!!!!! 😉

    • WestCoastFeed

      His brother Pete will hire him.

      • nan/4

        Typically, it’s pretty difficult for a convicted felon to get work, but in this case, yes, he certainly does have connections. Lucky him!

      • DoneWithBravo

        I LOVE how he feigned confusion when (dick) Andy asked him if he’d think it would be difficult to get people to hire a convicted felon.

        • WestCoastFeed

          He only has to be concerned about the next year while Teresa is in prison. After that, it will all be on her shoulders while he sits in the pen. And after that, he will find himself on a slow boat back to Italy. Teresa is going to be stuck with the major burden of paying all that back.

    • TheBeverlyHillsHaveEyes

      I’m sure she can pay the family living expenses etc from her account if he has no money? But I have no clue how he will pay his restitution if she can’t help him out. Another condition is “self employment/business disclosure”, it will be very interesting to see their income streams – especially Joe’s. I imagine this will have a huge impact on Joe’s family if they are helping them out – if Joe claims he’s getting hand outs I wonder will they start scrutinising the donors too?

  • Babson_Chick

    you mean The Judge didn’t want to read all the letters that I sent to her – bummer

    • cutie pie

      ah hahaha….

      • Babson_Chick

        Hi there cutie!! long time no see ya!! Hope all is well.

    • WestCoastFeed

      Babs. she got too many that were written in crayon that she tossed them all out.

      • Babson_Chick

        well dang it, and I used my best sharpie pen

    • DoneWithBravo

      She didn’t even get to read all of her “texteses”.

      • Babson_Chick

        lol – guess she’s just too busy or bored with all the stupidity

  • Jennymckitty

    I can understand keeping their finances separate but isn’t their debt co-mingled.? As a married couple, aren’t they equally responsible?

    • Hi Jenny. Good question. The site is planning a Q&A with the lawyer later this week to answer all these tough questions.

  • Susie Whats Her Name

    I don’t understand. Why? Who cares who pays what as long as they both pay.

    • WestCoastFeed

      They have separate fines. Teresa has that huge $200K fine that she was supposed to pay by sentencing date. And then she has another $10K (I think) fine. While Juicy has an $8K fine (I think). The way I understood the restitution was that it was joint and together they owed $414K. He should also have a so far unspecified amount due to the IRS. I can see why the court wants them to keep their financial accounts separate.

      • TheBeverlyHillsHaveEyes

        WCF – I understood that about the restitution too and I thought the $200,000 they were supposed to pay on their sentencing date was part-payment of that.

        • WestCoastFeed

          I don’t think so. I thought it was a court fine specifically affecting her.. But I may have completely misunderstood. I think the $414K is directly tied to their mortgage fraud case and it goes to the bank they defrauded. My memory is Wells Fargo gets it.

          • TheBeverlyHillsHaveEyes

            No you are probably right. I’m finding it a tad confusing at this stage 🙂 That makes sense re mortgage. I just don’t know how they pay it jointly if she is unable to now pay any of this debts.

          • WestCoastFeed

            I am puzzled by what she told Andy about her income. I thought she said all her promotional accounts were “dead” and all she now has is Fabellini. But It was really difficult to understand what she was saying.

          • TheBeverlyHillsHaveEyes

            Yes she did – it seems Fabellini is the one business they actually invested in and paid to import a container, which Joe claims is nearly all gone. The rest of her “businesses” were endorsement deals that were obviously severed due to all of this, I assume no one wants a promotions girl that is “gone away” for a year!

  • WestCoastFeed

    Interesting. Bravo is going to show their Secrets Revealed/Lost Footage tapes before they air the reunion. Is it taking time to get the reunion edited properly? Or is there some footage that we need to see for the reunion to make sense to us?

    • TheBeverlyHillsHaveEyes

      I read that they cut a trip to Atlantic City out too. Almost like BH last season where they had conversations in previews that never made it to episodes. Odd.

  • TartLemon

    Isn’t this the same thing they do in divorce?

    • Hi Tart. Yes, I was thinking the same thing.

  • WestCoastFeed

    North Jersey dot com is reporting that the $200K fine has now been paid and that it is a part of the $414K restitution.

    • Hi West. That’s odd…..if the $200k has been paid how can it be a part of the $414k?

      • WestCoastFeed

        Check your email for the link.

        • Thanks but it still doesn’t answer my question.

          • WestCoastFeed

            Ask the writer of the story. I had thought her $200K fine was separate from the restitution, but I would have to go back and read the plea deal decision to be sure. Do you have those docs?

      • TheBeverlyHillsHaveEyes

        I thought the 200k that was supposed to be paid on or before sentencing was a part payment of the 414k.

    • WestCoastFeed

      The story reports that $150K of the amount is from a contract advance to Teresa and the remaining $50K a loan from a friend. Sounds like another book advance.

      • TheBeverlyHillsHaveEyes

        Thanks for the info WCF. Wow they really are digging down the back of the couch for loose change right now aren’t they?

        • WestCoastFeed

          Yes, I knew that her supposed financial empire was all a fraud, but I was surprised at just how strapped they really are. I can’t think of where this big check would be coming from other than another book deal. Probably to write her memoirs.

          • TheBeverlyHillsHaveEyes

            Me too. It really does show how much they are still overspending even now. I wondered about a book too or perhaps Bravo rushing to film season 7 has something to do with it? I wonder are family and friends nervous of helping them out now in case their own financial affairs will be scrutinized?