'Real Housewives of New Jersey' Canceled Over Teresa Giudice Arrest? Twitter Star Net Worth Fraud Scandal With Husband Joe Sparks Divorce Rumors [VIDEO]

August 1, 2013 10:06 AM EDT
Teresa Giudice and her husband Joe pose for a picture together (Photo: twitter/teresa_giudice)
Teresa Giudice and her husband Joe pose for a picture together (Photo: twitter/teresa_giudice)

Could the Real Housewives of New Jersey be canceled over the recent arrest of Teresa Giudice? The Twitter star Giudice and her husband, Joe, are currently facing 39 counts of fraud charges related to their net worth that could land each of them in prison for 30 years. Joe, who is not a U.S. citizen, could also be deported back to Italy for the net worth fraud charges and it may result in a possible divorce for the couple. Bravo is reportedly horrified over the bad publicity the arrest has created for The Real Housewives of New Jersey and has reportedly had discussions over whether the show should be canceled. Teresa is considered to be the biggest star on the show due to her verbal fights with cast members and Joe, leading to constant rumors that they will divorce.

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The New York Daily News reported that Bravo is considering having the Real Housewives of New Jersey canceled and have already canceled tentative plans for a spin-off show. "They are not interested," said the source. "Bravo only spins off happy situations - marriages, baby news. Not prison. Nobody wants to see their talent in this kind of a situation."

Teresa and Joe surrendered to authorities this week at a federal courthouse in New Jersey. Each posted a $500,000 bond on the charges against them. Teresa and Joe are being accused of, among other fraud charges related to their net worth, submitting fraudulent mortgage and loan applications from 2001-2008, and failing to submit tax returns for several. An attorney for Teresa Giudice said the Real Housewives star plans to plead "not guilty" to the charges. Under the conditions of their bond, Teresa and Joe must also surrender their passports and may not travel outside of New York or New Jersey.

Teresa and Joe Giudice take a photo while on vacation together (Photo: twitter/teresa_giudice)
Teresa and Joe Giudice take a photo while on vacation together (Photo: twitter/teresa_giudice)

RELATED: 'Real Housewives' Teresa Giudice Headed to Prison?

Teresa took to Twitter earlier this week and addressed her possible prison sentence and the accusations of exaggerating her net worth and income. "Today is a most difficult day for our family," the Real Housewives star tweeted. "I am committed to my family and intend to maintain our lives in the best way possible, which includes continuing my career. I am hopeful that we will resolve this matter with the Government as quickly as possible."

Joe is also being charged with not filing tax returns from 2004-2008, when he allegedly made more than $1 million. Meanwhile, Teresa allegedly submitted fake W-2 forms and paystubs when applying for a $121,000 mortgage loan in 2001. The accusations of fraud even extend to when Teresa and Joe became famous as part of the Real Housewives franchise; they allegedly hid how well they were doing financially in a bankruptcy filing submitted after the first season aired.

"The indictment returned today alleges the Giudices lied to the bankruptcy court, to the IRS and to a number of banks," U.S. Attorney Paul Fishman said. "Everyone has an obligation to tell the truth when dealing with the courts, paying their taxes and applying for loans or mortgages. That's reality."

Teresa and Joe Giudice pose for a photo together in 2013 (Photo: twitter/teresa_giudice)
Teresa and Joe Giudice pose for a photo together in 2013 (Photo: twitter/teresa_giudice)

SEE ALSO: 'Real Housewives' Kenya Moore Facing Eviction Scandal!

Teresa has been a cast member on The Real Housewives of New Jersey since 2009 and has also competed on the 2012 edition of Celebrity Apprentice. She has co-authored three Italian cookbooks, all of which have made the New York Times Bestseller List. She also has her own her line of hair products and a line of Bellini cocktails. 

Teresa and Joe Giudice have four daughters together, ranging from ages 4-12.

 

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