What is Jen Shah's net worth? 'RHOSLC' star's credit card banned amid arrest for money laundering and wire fraud
'Real Housewives of Salt Lake City' star Jen Shah has been making headlines ever since she was arrested on Tuesday (March 30) while filming for season 2 of Bravo's hit reality show. While the cameras were still rolling, the housewife was cuffed and taken away on charges of conspiracy to commit wire fraud in connection with telemarketing and also a conspiracy to commit money laundering.
The housewife, who was arrested alongside her 'first assistant' Stuart Smith, appeared at the federal courthouse on the same day. The pair managed to secure a release from Judge Dustin Pead on several strict conditions. The conditions include a travel ban outside of Utah. She can't travel outside of Utah or the country without the permission of a pretrial officer and also needs to surrender her passport. She is also not allowed to use her credit card or apply for any new lines of credit, as part of her release conditions. This certainly makes things interesting, as the 47-year-old reality star is known for her extravagant lifestyle. Read on to know more about the housewife's arrest and her net worth.
Why was Jen Shah arrested while filming Season 2 of 'Real Housewives of Salt Lake City'?
'RHOSLC': What does Sharrieff Shah do for a living? Jen's husband can't travel with her because of his 'insane' job
Why was Jen Shah arrested?
The reality star and her assistant Stuart have been charged with conspiracy to commit wire fraud in connection with telemarketing and also a conspiracy to commit money laundering. If found guilty, the duo could potentially be sentenced to up to 50 years in prison as the maximum sentence for conspiracy to commit wire fraud is 30 years while conspiracy to commit money laundering comes with a maximum of 20 years sentence.
The New York Police Department revealed that the number of victims duped by the duo stands in the 'hundreds', while also adding that this scam has been operational for nearly a decade since its inception in 2012 and ran until this March. According to the indictment, Shah and Stuart "sold alleged services purporting to make the management of victims' businesses more efficient or profitable." The release mentioned services such as tax preparation, website design services, etc, to its elderly victims.
The scheme also included Shah and Stuart allegedly trafficking the list of potential victims, who they referred to as "leads". Many of these "leads" had already made an investment to create an online business with other participants of the scheme.
Homeland Security Investigations Special Agent-in-Charge Peter C. Fitzhugh explained how Shah and her agent "allegedly built their opulent lifestyle at the expense of vulnerable, often elderly, working-class people", as they continued to flaunt their "lavish lifestyle to the public as a symbol of their 'success," reported Fox News.
What is Jen Shah's net worth?
Jen never shied away from flaunting her extravagant lifestyle and wealth on 'RHOSLC'. From having a huge entourage of assistants to claims of needing $50,000 for her monthly expenses, Jen made sure that everybody knew she was rolling in money. According to The Sun, the housewife's net worth has been estimated to be $3 million. But following her arrest, her net worth might take a significant hit.
Fans were always curious to know where Jen was getting her money from, considering her husband Sharrieff Shah was only an assistant coach at the University of Utah. The housewife finally cleared up the air during the reunion by explaining to the host Andy Cohen that she worked in marketing. "My background is in direct response marketing for about 20 years, so our company does advertising," she said in response. "We have a platform that helps people acquire customers, so when you're shopping online or on the Internet, and something pops, we have the algorithm behind why you're getting served that ad."
Jen's explanation only ended up further confusing the fans who still weren't very sure about what the housewife did for a living. She also explained during the reunion that she owned three other businesses: JAX Fashion, Shah Beauty, and The Real Shah Lashes. There's no information available about how much Jen made through her business ventures, although it seems like she made a tiny fortune from her telemarketing fraud scheme. According to reports, Jen and Stuart were being paid a portion of profits from the money made through the "leads". It'll be interesting to see what Jen has to say about all this, and hopefully, all this drama will make it to the upcoming season of 'RHOSLC'