Reality TV stars sentenced for fraud

by Rachel.Norvell02 Oct 2014
A U.S. District Judge has sentenced Teresa Giudice, star of "The Real Housewives of New Jersey," and her husband, Giuseppe Giudice, to 15 and 41 months in prison for mortgage fraud, respectively.
Giuseppe, better known as Joe, was also ordered to pay $414,588 in restitution and was fined $10,000, according to Reuters. The Towaco, N.J., couple entered plea deals in March, admitting to bankruptcy fraud and conspiracy to commit mail and wire fraud. Joe also pleaded guilty to failure to file tax returns on income totaling nearly $1 million.
The couple also admitted that between 2001 and 2008, they submitted fraudulent applications for mortgages and other loans, falsely claiming to have substantial salaries.
In 2001, Teresa applied for a $121,500 mortgage by falsely claiming she worked as an executive assistant and submitting fake W-2 forms and pay stubs, according to Reuters


Should CFPB have more supervision over credit agencies?