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Teresa and Joe Giudice of "The Real Housewives of New Jersey" each released on $500,000 bond in fraud case, report says

Giuseppe "Joe" Giudice, 43, left, and his wife, Teresa Giudice, 41, of Montville Township, N.J., walk out of Martin Luther King, Jr. Courthouse after a court appearance, Tuesday, July 30, 2013, in Newark, N.J. The two stars of the "Real Housewives of New Jersey" were indicted Monday on federal fraud charges, accused of exaggerating their income while applying for loans before their TV show debuted in 2009, then hiding their improving fortunes in a bankruptcy filing after their first season aired. They are charged in a 39-count indictment with conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud. (AP Photo/Julio Cortez) Julio Cortez

Giuseppe "Joe" Giudice, left, and his wife, Teresa Giudice, walk out of Martin Luther King, Jr. Courthouse after a court appearance, Tuesday, July 30, 2013, in Newark, N.J.
AP Photo/Julio Cortez
(CBS/AP) NEWARK, N.J. After appearing in a New Jersey federal court Tuesday morning, reality TV stars Teresa and Giuseppe "Joe" Giudice were each released on $500,000 unsecured appearance bonds, reports NJ.com.

The couple, who star in Bravo's popular "The Real Housewives of New Jersey," face federal fraud charges and are accused of exaggerating their income while applying for loans before their TV show debuted in 2009, then hiding their improving fortunes in a bankruptcy filing after their first season aired.

PICTURES: Reality TV stars' run-ins with the law

The pair did not enter pleas, and an arraignment was set for Aug. 14, reports the website. In a statement Monday, Teresa Giudice's lawyer, Henry Klingeman, said she would plead not guilty.

In a packed courtroom, the couple stared straight ahead as they heard major charges read aloud from the 39-count indictment, reports the website. The charges include conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud.

The reality stars must turn over their passports and stay in New York and New Jersey, according to the terms of the bail, TMZ reports.

Joe Giudice, who is not a U.S. citizen, is subject to drug testing, reports the website. Teresa Giudice will not be subjected to drug tests.

"Today is a most difficult day for our family," Teresa Guidice said in a statement released Monday. "I support Joe, and as a wonderful husband and father I know he wants only the best for our lovely daughters and me," she said. "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."

The couple submitted fraudulent mortgage and other loan applications from 2001 through 2008, a year before their show debuted on Bravo, making phony claims about their employment status and salaries, the indictment alleges.

Joe Giudice also failed to file tax returns for the years 2004 through 2008, when he is alleged to have earned nearly $1 million, the government said.

When Teresa filed for a mortgage loan of $121,000 in 2001, she falsely claimed she worked as an executive assistant, submitting fake W-2 forms and fake paystubs as part of the ruse, the indictment said.

In their petition for bankruptcy protection, initiated in October 2009, the couple concealed businesses they owned, rental income they received, and Teresa's true income from the "Real Housewives," website sales and personal appearances, the indictment said.

Prosecutors said they also hid their anticipated increase in income from the then-upcoming second year of the show, which is in its fifth season.

"The indictment returned today alleges the Guidices lied to the bankruptcy court, to the IRS and to a number of banks," U.S. Attorney Paul J. Fishman said in a statement."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."

Complete coverage of Teresa Giudice on Crimesider

  • Crimesider Staff

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