A couple featured on the "Real Housewives of New Jersey" have postponed their upcoming bankruptcy fraud trial after running into problems with their bankruptcy trustee, according to the reality television news website RealityTea.
Teresa and Joe Giudice filed for bankruptcy in June 2010 after racking up almost $11 million in debt. The New York Post reported that Teresa Giudice had an excessive shopping habit that quickly overwhelmed the couple's combined monthly income. According to the newspaper, at the time the couple filed for bankruptcy Teresa Giudice owed nearly $20,000 in credit card debt on various department store credit cards while the couple owed about $104,000 on at least eight credit cards.
John Sywilok, the bankruptcy trustee assigned to oversee the Giudices' case, alleged the couple had committed bankruptcy fraud in their original petition by concealing assets and income from their filing. While the couple was set to go to trial for bankruptcy fraud on July 14, RealityTea reports they have had it postponed to October 13, around the same time the new season of the "Real Housewives" is expected to begin filming.
The couple also has another trial scheduled for January 2012 in which they are attempting to have a mortgage debt related to Joe Giudice's business dealings with a former partner excluded from their personal bankruptcy case.
There were 27 bankruptcy fraud cases initiated in 2010, according to the Internal Revenue Service. In 21 of those cases the defendants were sentenced to an average of 31 months in prison.
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