Former Real Housewives of New Jersey Jacqueline Laurita and her husband Christopher are named in an approximately $8 million lawsuit, according to reports.
According to RadarOnline.com, the nearly $8 million lawsuit is against their clothing company, Signature Apparel, which Laurita's husband and her brother-in-law Joseph founded in 2005.
The lawsuit filed in November last year claims that Laurita's family misused company funds and to support a luxurious lifestyle that totaled more than $7.8 million.
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, RadarOnline reported of the complaint. Signature's assets were misused to make outright and unjustified payments to Laurita family members, and to fund the operations of the Laurita brothers' other companies and business ventures.
The RadarOnline article noted that the business made more than $250 million between 2005 and 2009. However, the company filed for bankruptcy in November 2009.
The money was alleged misused in some of the ways listed below:
-- Nearly $2 million in credit card payments for the Laurita Family, including payments to more than 40 bank accounts.
-- At least $331,637 for payments on no less than eleven leased cars, including a Bentley and a Maserati.
-- At least $284,793 in airline travel expenses for the Laurita Family.
-- At least $145,894 for private airplane rentals for the Laurita Family.
-- At least $755,184 to defendant Christopher Laurita for undocumented or insufficiently documented reasons.
-- At least $784,160 of disbursements directed by the Laurita Director Defendants (Chris and Joseph) to unknown recipients, without any documentation whatsoever.
In March, Laurita answered the complaint stating that she lacks knowledge or information sufficient to form a belief as to the truth of the allegations of the First Amended Complaint.
Her husband has denied much of the allegations in the complaint, which is still pending.