January 22, 2014 12:55 PM by Suzy Kerr
The last several months have not been good for Joe and Teresa Giudice, who are currently embroiled in a huge legal battle that is set to play out in court next month. After dealing with blow after blow against them, final the Real Housewives of New Jersey couple has been given a bit of good news – they get to keep their lavish mansion. Of course, it still remains to be seen whether or not they’ll be spending the rest of their days there instead of prison.
RadarOnline had the scoop on Joe and Teresa Giudice’s latest legal troubles, but this one worked out for them in the end. The matter at hand was their over-the-top mansion and whether or not it should be used to pay off the millions they owe in debt. However, in documents obtained by Radar, it looks like a bankruptcy court has ruled that the Towaca, New Jersey mansion will instead go into abandonment because it is of “inconsequential value” to their estate. The Giudices reportedly owe $1.65 million on their mortgage, and with the house valued at only $500,000, the court decided that abandonment would be the better option. So it looks like the reality couple is staying put….for now.
That could all change next month, however, when the Real Housewives of New Jersey stars head to trial to face the 41 counts of fraud they’ve been charged with. Teresa and Joe have been charged with basically every type of fraud there is, from mail and wire fraud to mortgage fraud to lying about their employment statuses and income. If convicted, they could face up to 50 years in federal prison. Joe’s also up for some additional charges, including obtaining a driver’s license illegally after his DUI, which could net him an extra 10 years in the clink.
So what do you think about the latest development in Teresa and Joe Giudice’s legal battle? Do they deserve to keep their home? Tell us in the comments!
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Photo Credit: Bravo
Topics: Bravo Reality TV Shows, The Real Housewives Of New Jersey |
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