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The usual Real Housewives drama pales in comparison to the latest news concerning Teresa GiudiceThe Real Housewives of New Jersey star and her husband Joe were charged Monday with a number of serious instances of financial fraud. If convicted, they could each serve more than 50 years in prison.

“The indictment returned today alleges the Guidices lied to the bankruptcy court, to the IRS and to a number of banks,” 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.”

Among the charges of the 39-count indictment are conspiracy to commit mail and wire fraud, bank fraud, lying on loan applications and bankruptcy fraud. Joe is also being charged with failure to file tax returns for 2004 through 2008.

On loan applications, Teresa and Joe allegedly made up fake jobs and salaries to get larger loans. They also allegedly used fake documents in a conspiracy to get mortgages and loans they did not deserve. Read more at radaronline  

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