Plugin Install : Cart Detail need WooCommerce plugin to be installed.
Money News Network
  • Wealth
    • Personal Finance Tips
    • Retirement Hacks
    • Investing Moves
    • Beating Debt
  • Career
    How to Stay Motivated When Your Goal Is Far Away

    How to Stay Motivated When Your Goal Is Far Away

    How to Do the Thing You’ve Been Avoiding

    How to Do the Thing You’ve Been Avoiding

    How to Use Fear to Push You Forwards

    How to Use Fear to Push You Forwards

    One Thing Better - Newsletter by Entrepreneur editor-in-chief Jason Feifer

    How to Avoid Distractions and Get Important Things Done

  • Culture
    How Much is a Scandal Worth

    How Much is a Scandal Worth?

    Can Money Buy Happiness? Ask Britney Spears.

    Can Money Buy Happiness? Ask Britney Spears.

    Shakira on Trial for Tax Fraud

    Shakira on Trial for Tax Fraud? But Hips Don’t Lie?

    What We Can Learn From Celebs Who Rent

    What We Can Learn From Celebs Who Rent

  • Podcasts
    • All
    • Help Wanted
    • Money Assistant
    • Money Maker | Mi Mundo Rico
    • Money Rehab
    • Trade Like Einstein
    • We Have Options
    Money Maker | Mi Mundo Rico with Nely Galán

    Una Lección de Negocios que Debemos Recordar

    Money Maker | Mi Mundo Rico with Nely Galán

    In Business, Never Lose Sight of This

    Money Rehab with Nicole Lapin | Money News Network Podcast

    Greed on Trial, Branson’s Backup and Tax Hacks

    Help Wanted with Jason Feifer and Nicole Lapin

    “How Can I Set My Business Apart From Competitors? Help!”

    Money Rehab with Nicole Lapin | Money News Network Podcast

    Legal Loopholes the Rich Use To Get Richer— and You Can Too!

    Money Rehab with Nicole Lapin | Money News Network Podcast

    Elon Musk Told Advertisers To “F—k Themselves,” Here’s Our Hot Take

    • Money Rehab
    • Help Wanted
    • We Have Options
    • Money Maker | Mi Mundo Rico
    • Trade Like Einstein
    • Money Assistant
  • Shop
No Result
View All Result
SUBSCRIBE
  • Wealth
    • Personal Finance Tips
    • Retirement Hacks
    • Investing Moves
    • Beating Debt
  • Career
    How to Stay Motivated When Your Goal Is Far Away

    How to Stay Motivated When Your Goal Is Far Away

    How to Do the Thing You’ve Been Avoiding

    How to Do the Thing You’ve Been Avoiding

    How to Use Fear to Push You Forwards

    How to Use Fear to Push You Forwards

    One Thing Better - Newsletter by Entrepreneur editor-in-chief Jason Feifer

    How to Avoid Distractions and Get Important Things Done

  • Culture
    How Much is a Scandal Worth

    How Much is a Scandal Worth?

    Can Money Buy Happiness? Ask Britney Spears.

    Can Money Buy Happiness? Ask Britney Spears.

    Shakira on Trial for Tax Fraud

    Shakira on Trial for Tax Fraud? But Hips Don’t Lie?

    What We Can Learn From Celebs Who Rent

    What We Can Learn From Celebs Who Rent

  • Podcasts
    • All
    • Help Wanted
    • Money Assistant
    • Money Maker | Mi Mundo Rico
    • Money Rehab
    • Trade Like Einstein
    • We Have Options
    Money Maker | Mi Mundo Rico with Nely Galán

    Una Lección de Negocios que Debemos Recordar

    Money Maker | Mi Mundo Rico with Nely Galán

    In Business, Never Lose Sight of This

    Money Rehab with Nicole Lapin | Money News Network Podcast

    Greed on Trial, Branson’s Backup and Tax Hacks

    Help Wanted with Jason Feifer and Nicole Lapin

    “How Can I Set My Business Apart From Competitors? Help!”

    Money Rehab with Nicole Lapin | Money News Network Podcast

    Legal Loopholes the Rich Use To Get Richer— and You Can Too!

    Money Rehab with Nicole Lapin | Money News Network Podcast

    Elon Musk Told Advertisers To “F—k Themselves,” Here’s Our Hot Take

    • Money Rehab
    • Help Wanted
    • We Have Options
    • Money Maker | Mi Mundo Rico
    • Trade Like Einstein
    • Money Assistant
  • Shop
No Result
View All Result
Money News Network
No Result
View All Result

Real Housewives Star Jennifer Shah Pled Guilty to Fraud. Who’s Next?

Turns out, she is guilty of more than being Shah-mazing.

Nicole Lapin by Nicole Lapin
April 21, 2023
in Culture, The Money Minute
Reading Time: 4 mins read
police lights

What’s going on?

Last week, Jennifer (Jen) Shah— a cast member of The Real Housewives of Salt Lake City— pled guilty to one count of conspiracy to commit wire fraud. Beyond the click bait-y headlines, there are some real takeaways about the legal weight of endorsements and understanding your rights as a consumer. But first, let’s back up.

For those who live under rocks like I do, The Real Housewives is a Reality TV franchise on Bravo that has many spin-offs in cities around the country. There’s The Real Housewives of Beverly Hills, The Real Housewives of Orange County, The Real Housewives of Potomac, The Real Housewives of Salt Lake City and on and on…. and on.

Fans of the Housewives will know that there’s been a general sense of confusion around how cast member Jen Shah got so wealthy— and that’s even been a plot line on the show. Before her arrest, she claimed that she spent $50,000 a month on her lavish lifestyle. And so naturally, the question is: how on earth can she afford that?

RELATED POSTS

What Should You Invest In? The Clue Is Closer Than You Think

The Three Best AI Apps for Your Finances

Tips For Student Loan Repayment, Beating Overages and Finding Your Dream Mentor

When asked about the source of her riches in an interview (pre-arrest), Shah said that she made her money from her digital marketing company, where she was— and I quote “the Wizard of Oz,” working “behind the curtain” of the operations. And anyone who knows The Wizard of Oz movie, knows the Wizard is actually a fraud… and as it turns out, so is Shah.

The crime.

Shah was arrested over a year ago with her assistant, Stuart Smith. At the time, there was compelling evidence that Shah and Smith had been targeting elderly Americans in a scam that had spanned six states over 10 years. According to legal documents, between 2012 and 2021, Shah and Smith defrauded hundreds of victims across the country, by selling those victims bogus business services in connection with the victims’ online businesses. CNN Business reported that the scammers sold website design services to some elderly individuals who didn’t even own computers.

The scammers lied to victims about how much they would earn after purchasing the business services and also lied about how successful the others who had purchased the services had been. CBS News cited statements from the DOJ describing how Shah controlled the day-to-day operations of the Manhattan sales floor between 2018 and 2020 and, alongside her colleagues, moved certain operations to Kosovo to avoid law enforcement and regulatory scrutiny.

The U.S. Attorney for the Southern District of New York Damian Williams said in a statement: “Jennifer Shah was a key participant in a nationwide scheme that targeted elderly, vulnerable victims. These victims were sold false promises of financial security but instead Shah and her co-conspirators defrauded them out of their savings and left them with nothing to show for it.”

When they were arrested in March 2021, both Shah and Smith pleaded not guilty. Shah was released on a $1 million personal recognizance bond, with a $250,000 cash security. Then in November 2021, Smith pled guilty and was sentenced to six years in prison. Even after Smith pled guilty, Shah asserted that she was innocent. And she continued to appear in Real Housewives of Salt Lake City, including a very cringe-y promo for the show where she said: “The only thing I’m guilty of is being Shah-mazing.”

But everything changed last Monday. Shah pled guilty to conspiracy to commit wire fraud and said the following in court: “From 2012 to March 2021 in the Southern District of New York and elsewhere I agreed with others to commit wire fraud. I did this by knowingly providing customer names to people who were marketing business services that had little or no value. I knew this was wrong. I know many people were harmed and I am so sorry.”

Shah’s sentence.

She was charged with one count of conspiracy to commit wire fraud, for which she faces a maximum penalty of up to 30 years in prison. We won’t know her sentence until November of this year, but according to Yahoo News, Shah’s plea agreement called for a sentence of anywhere between 11 to 14 years in prison. However, we already know the financial consequences: Shah will forfeit $6.5 million and pay restitution up to $9.5 million.

My two cents?

Sure, this case is a juicy takedown of a reality TV star who is often the butt of a joke, but because one highly-reported case so often opens the floodgates to others, I am really interested in how this case may pave the way for class-action lawsuits brought against celebrities that endorse phony products.

Celebrities hawk things on social media all the time, it’s a phenomenon I see a lot with crypto and beauty especially. For example, Kylie Jenner, Vanessa Hudgens, and Khloe Kardashian have all posted Instagram ads promoting Sugarbear hair vitamins, and imply they’ve used the vitamins themselves. However, the vitamins are not regulated or even approved by the FDA. And there’s actually some question as to whether the main ingredient in Sugarbear hair vitamins, biotin, actually makes a difference in your hair health. And, there have actually been reports of increased acne after using Sugarbear hair vitamins.

Here’s my takeaway: Shah’s case is an excellent reminder to always ask for a trial period before committing to a service. Just because a customer service rep didn’t explicitly offer you the option to take a product or service for a test drive, doesn’t mean you won’t get one if you ask. And, lastly, if it sounds too good to be true… it probably is.

xo,
Nicole signature

Previous Post

Real Estate $$$ Without the Headache

Next Post

How Much Is a Hit Song Worth? with Musician Skylar Grey

More Articles

What Should You Invest In? The Clue Is Closer Than You Think
The Money Minute

What Should You Invest In? The Clue Is Closer Than You Think

What Should You Invest In? The Clue Is Closer Than You Think If you’re new to investing, the stock market...

by Nicole Lapin
The Three Best AI Apps for Your Finances
The Money Minute

The Three Best AI Apps for Your Finances

As a financial pro, I am personally stoked about all of the new money-making opportunities AI is delivering to our...

by Nicole Lapin
Tips For Student Loan Repayment, Beating Overages and Finding Your Dream Mentor
The Money Minute

Tips For Student Loan Repayment, Beating Overages and Finding Your Dream Mentor

Let’s try something new! I’m experimenting with a new format because ya girl is always learning and growing. On Fridays...

by Nicole Lapin
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Money News Network

Money News Network is the premier podcast-driven financial news and information destination. We create content that cuts through the typical Wall Street jargon to help inform, empower and inspire you on your money journey.

Latest

  • How to Get More Done — While Reducing Your Stress
  • Greed on Trial, Branson’s Backup and Tax Hacks
  • In Business, Never Lose Sight of This
  • Una Lección de Negocios que Debemos Recordar

Topics

  • News
  • Wealth
  • Career
  • Culture

Podcasts

  • Money Rehab
  • Help Wanted
  • We Have Options
  • Money Maker | Mi Mundo Rico
  • Trade Like Einstein
  • Money Assistant
  • About
  • Contact
  • Privacy
  • Terms

© 2023 Money News Network
The information on MNN is for educational purposes only and
is not intended as, and shall not be understood or construed as, financial advice.

No Result
View All Result
  • Wealth
    • Personal Finance Tips
    • Retirement Hacks
    • Investing Moves
    • Beating Debt
  • Career
  • Culture
  • Podcasts
    • Money Rehab
    • Help Wanted
    • We Have Options
    • Money Maker | Mi Mundo Rico
    • Trade Like Einstein
    • Money Assistant
  • Shop

© 2023 Money News Network
The information on MNN is for educational purposes only and
is not intended as, and shall not be understood or construed as, financial advice.