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You might not love reality television series so much, especially ever since the Kardashian prodigy was created, but you should know it’s a million-dollar business. In fact these people make so much money, some even try to avoid the IRS and end up charged with tax evasion. It’s the case for the Jersey Shore star Mike Sorrentino who reportedly sold the custom wheels of his Ferrari on eBay just to gather more money.
He appeared on the MTV reality show Jersey Shore in all six seasons from December 2009 through its final episode in 2012 and fans know him as “The Situation”. But it would seem the party season ended for this 32-year old actor who was charged with tax fraud this September.
According to the US Attorney, Sorrentino and his brother, Marc, established S corporations (read: a closely held corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code) that paid for personal expenses and failed to report income. Sorrentino allegedly avoided paying taxes on $8,9 million.
What, you’re wondering where all that money comes from? Well, let us tell you this, Kim Kardashian is not the only one to brake the internet and drive the most luxurious rides on the market. For instance, Sorrentino made more than $5 million in 2010, the second highest of any other reality star (after Kim K. of course). The money mainly came through endorsements with several companies such as Devotion Vodka and Reebok Zigtech.
However, ever since the two brothers got charged tables have turned and now it would seem they are looking to monetize their belongings. Tabloids write that the former Jersey Shore star has become so broken that he was forced to sell his custom Ferrari wheels on eBay on Wednesday. The auction ended earlier as Mike was offered $9,999 for the set of four used wheels.
While the trial was scheduled for December 2, fortunately the brothers were granted a request to delay the trial until March next year, so they still have time to gather some money, they will most likely need. Mike Sorrentino faces up to 11 years in prison, while his brother could get up to 14 years.
According to the US Attorney, Sorrentino and his brother, Marc, established S corporations (read: a closely held corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code) that paid for personal expenses and failed to report income. Sorrentino allegedly avoided paying taxes on $8,9 million.
What, you’re wondering where all that money comes from? Well, let us tell you this, Kim Kardashian is not the only one to brake the internet and drive the most luxurious rides on the market. For instance, Sorrentino made more than $5 million in 2010, the second highest of any other reality star (after Kim K. of course). The money mainly came through endorsements with several companies such as Devotion Vodka and Reebok Zigtech.
However, ever since the two brothers got charged tables have turned and now it would seem they are looking to monetize their belongings. Tabloids write that the former Jersey Shore star has become so broken that he was forced to sell his custom Ferrari wheels on eBay on Wednesday. The auction ended earlier as Mike was offered $9,999 for the set of four used wheels.
While the trial was scheduled for December 2, fortunately the brothers were granted a request to delay the trial until March next year, so they still have time to gather some money, they will most likely need. Mike Sorrentino faces up to 11 years in prison, while his brother could get up to 14 years.
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