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Real Housewives of Atlanta

Jacqueline Laurita Named in $8 Million Lawsuit; Family Clothing Company Accused of Misusing Money!

Maybe Teresa Giudice was onto something when she hinted that fellow Real Housewives of New Jersey castmate Jacqueline Laurita was having financial trouble of her own!

According to Radar Online, Jacqueline is named in an $8 million lawsuit against the Laurita’s clothing company, Signature Apparel, which was founded in 2005 by Jacqueline’s husband Chris, and his brother Joseph Laurita.

The suit alleges that Chris and Joseph drained the company of $7,804,227 and improperly used that money to support the family’s luxurious lifestyle. The complaint — filed on November 2 — reads, “The Laurita brothers soon drained the Company of all of its funds and assets in order to support their families’ increasingly opulent lifestyle of private jets, limousines, extravagant parties, premium automobiles, designer clothing, ostentatious home furnishings and lavish vacations.”

Although Signature Apparel made upwards of $250 million from 2005 to 2009, the company filed for bankruptcy in November of 2009, which prompted the debtor to come forward with this lawsuit.

The suit outlines all of the money that was allegedly misused, including: $331,637 for payments on no less than eleven leased cars, including a Bentley and a Maserati, $145,894 for private airplane rentals for the Laurita Family, and nearly $2 million in credit card payments for the Laurity Family, including payments to more than 40 bank accounts.

In short, the suit states, “Funds that should have been used to grow Signature’s business and to pay Signature’s vendors and creditors, instead were diverted to the Laurita Family Defendants.”

Hey, Chris had to pay for all of Ashley’s undeserved cars somehow!

While the suit claims that Jacqueline knew that money was being used improperly and even accepted said money to pay for expenses, Jacqueline claims she had no idea anything was awry. In Jaqueline and Chris’ answer to the complaint, they state that Jacqueline “lacks knowledge or information sufficient to form a belief as to the truth of the allegations of the First Amended Complaint.”

Chris has also denied the allegations and states that the complaint should be dismissed “because of a failure to state facts sufficient to constitute a cause of action and a failure to state a claim upon which relief may be granted.”

In other words, Chris and Jacqueline are claiming that they have done nothing wrong or illegal. Since the case is still pending, only time will tell!

Source: Radar Online

11.3.2011 / 01:54 AM EDT by Samantha Leffler
Related: Real Housewives of Atlanta, Gossip

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