The 47-year-old TV personality and her first assistant Stuart Smith, 43, were taken into custody on March 31 for their alleged involvement in a nationwide telemarketing fraud scheme. The two were arrested on charges of conspiracy to commit wire fraud in connection with telemarketing and conspiracy to commit money laundering.
On April 2, both Jen and Stuart pleaded not guilty to the charges during a virtual arraignment. Jen is also required to put up $1 million bond as the judge stated, “There is a risk of flight here. It’s not insubstantial. I’m going to release her on the following conditions: I am going to require a personal recognizance bond of $1 million. I am going to required $250,000 to secure that bond in cash or property.”
The judge also stated Jen will have one week to comply. E! News has reached out to Jen’s rep for comment.
Following the arrests in late March, Manhattan U.S. Attorney Audrey Strauss shed some light on the case.
“Jennifer Shah, who portrays herself as a wealthy and successful businessperson on ‘reality’ television, and Stuart Smith, who is portrayed as Shah’s ‘first assistant,’ allegedly generated and sold ‘lead lists’ of innocent individuals for other members of their scheme to repeatedly scam,” she said in a press release following Jen and Stuart’s arrests. “In actual reality and as alleged, the so-called business opportunities pushed on the victims by Shah, Smith, and their co-conspirators were just fraudulent schemes, motivated by greed, to steal victims’ money. Now, these defendants face time in prison for their alleged crimes.”