Betrayal Season 5, Episode: "Libby"
Featured on ABC's Betrayal: Secrets and Lies | April 27, 2026
Host: Andrea Gunning

Episode Overview

This episode follows the story of Libby Henry, whose life was upended when she discovered her husband Ted's elaborate web of financial crimes. What began as a seemingly idyllic marriage devolved into bankruptcy, an FBI investigation, and personal ruin. Through Libby's voice, the episode explores the dynamics of marital trust, financial dependence, the myth of the "perfect victim," and how women can reclaim their lives after profound betrayal.

Key Topics & Discussion Points

1. Introduction & Context (04:43)

• Andrea introduces Libby as one of the first members of the White Collar Wives Project, a support group for women blindsided by husbands' financial crimes.

• Andrea sets up Libby's story: a woman who had to rebuild her life and become an advocate for financial transparency among women.

  "She wants other women to know the business side of their marriages, to ask the questions, to not find themselves in the same position." (03:07, Andrea)

2. Libby's Early Life & Meeting Ted (05:38–11:15)

• Libby describes a tumultuous childhood in Louisville, Kentucky, marked by her mother’s undiagnosed mental health struggles.

• She aspired to a "normal family" life.

• Attends the University of Kentucky and meets Ted House—a charming, confident student from a wealthy, politically connected family.

• Libby is warmly welcomed into Ted’s family, and the couple quickly become serious.

  "I just wanted to have a normal home because I didn't come from one. That was my big plan. That was it." (06:55, Libby)

  "Ted didn't seem to care that I didn't have any money. That didn't seem to bother him." (09:52, Libby)

3. Marriage, Family, and Building a Life (13:08–18:23)

• Ted proposes with a custom sapphire and diamond ring, symbolic within his family.

• Both take state jobs in Indiana but move to Louisville for Ted's new mortgage venture.

• Libby's health issues force her to become a stay-at-home mom—a decision she later calls a critical mistake.

  "Ted said, you know, I'm making enough money, you don't need to go back to work. So I didn't. I would stay home for the next 10 years. And that was a critical mistake for me." (18:23, Libby)

4. The Illusion of Prosperity (23:23–26:31)

• Ted’s mortgage and real estate businesses thrive, allowing for an upscale lifestyle and travel.

• Libby is fully in charge of life at home; Ted manages all finances.

• They upgrade to a luxurious home in an exclusive neighborhood.

  "Life seemed to be getting better and better and better. I never thought that money was an issue in my life at all." (24:26, Libby)

5. Warning Signs & Ted’s Erratic Behavior (26:31–32:10)

• Ted becomes irritable, withdrawn, and secretive; claims work stress.

• Disturbing confrontation: Ted fears his business partner Khalid may "kill" him or his family over a deal gone bad.

• Libby’s alarm grows, but Ted’s parents downplay the threat.

  "So that was not even a red flag. It was a red flare." (31:15, Libby)

6. The Spark: Realizing Financial Blindness (32:10–34:16)

• Libby watches a TV segment about a widow who was oblivious to her financial ruin until her husband's death. This prompts Libby to ask Ted for financial transparency.

• Ted resists, arguments escalate.

  "I wanted a folder that showed me what happens if he… if anything happened to him. I didn't know what would happen with the company..." (32:58, Libby)

7. The Unraveling: Bankruptcy & Divorce (34:16–38:16)

• Three days before Christmas, Ted calmly reveals they must file for Chapter 7 bankruptcy.

• Libby is blindsided—there were no prior signs of financial distress.

• Ted then proposes Libby alone file for bankruptcy, raising further suspicion and prompting her to initiate divorce.

• Ted tries to regain control; writes a letter promising to change and give full transparency, yet omits the truth about his criminal activities.

  "I mean, literally, here I am today and my life imploded, and I'm like, why did that happen? Maybe to help other people. Maybe that's just as simple as that." (57:16, Libby)

8. The Truth Revealed: FBI Investigation (41:59–47:20)

• Libby learns through a friend's husband (an attorney) that Ted is being investigated by the FBI for an elaborate mortgage fraud scheme.

• Libby confronts Ted—he responds coldly, even threatening her:

  "If I go down, I'm taking you with me." (04:05, Libby; 43:12)

  "I don't owe you anything, bitch." (43:43, Ted to Libby)

• Libby chooses to cooperate with the FBI, learning that the only thing she’s guilty of is "trusting your husband." (45:02, FBI Agent)

9. Aftermath: Financial & Social Ruin (47:20–54:40)

• Libby loses her home, credit, and sense of security; must rely on food stamps, struggles with bankruptcy’s fallout.

• Discovers forged loan signatures in her name—her reputation, safety, and financial future are destroyed.

• Ex-in-laws—once loving—refuse to help her or their granddaughter.

• Persistent community rumors label her as complicit, highlighting the burden and myth of the “perfect victim.”

  "It really was like I signed my identity over at the altar." (48:37, Libby)

  "I felt like his parents thought I betrayed him by not standing by my man...But their son betrayed me." (50:53, Libby)

10. Seeking Justice & Reclaiming Identity (51:42–54:10)

• Libby investigates property records, finds forged documents implicating her.

• Despite providing evidence, is told by authorities that because Ted has already served time, there's nothing they can do.

• She works for years to have her name cleared from property deeds.

  "It officially says that now there's proof. I now can set that rumor straight. But words, rumors really, truly can harm you forever." (53:41, Libby)

11. Personal Consequences & Legacy (54:51–57:16)

• The ordeal devastates her relationship with her daughter—now marked by poverty, stigma, and emotional trauma.

• Ted, even from prison, sends cruel messages blaming Libby.

• Upon release, Ted lands softly thanks to family support; Libby continues to struggle for stability.

  "You're in a federal prison telling your daughter not to be like her mother." (55:36, Libby)

Notable Quotes & Memorable Moments

• On Realization:
  "She is me, that is me." (32:40, Libby, on seeing herself in the Dateline/60 Minutes story)
• On Betrayal:
  "I go, you owe me more of an explanation. And he said verbatim, I don't owe you anything, bitch." (43:12–43:43, Libby recounting Ted)
• On the Aftermath:
  "The only thing you're guilty of is trusting your husband. That's all you're guilty of." (45:02, FBI Agent to Libby)
• On Loss:
  "It really was like I signed my identity over at the altar." (48:37, Libby)
• Advice to Listeners:
  "If your significant other is pushing back, that's a red flag." (54:40, Libby)
• Why She Shares Her Story:
  "Maybe to help other people. Maybe that's just as simple as that." (57:16, Libby)

Key Timestamps

• 04:05 – Libby's first confrontation: "If I go down, I'm taking you with me."
• 06:55 – Libby’s childhood motivation for seeking normalcy
• 18:23 – Decision to become a stay-at-home mom
• 26:31 – Signs of Ted’s unraveling begin
• 32:10 – Catalyst: Libby’s realization of financial ignorance
• 34:29 – Ted announces their bankruptcy
• 41:59 – Libby discovers the FBI investigation
• 43:12 – Libby confronts Ted, receives threats and verbal abuse
• 45:02 – FBI Agent’s assurance: “Only thing you’re guilty of is trusting your husband.”
• 48:37 – "I signed my identity over at the altar."
• 53:41 – Libby finally clears her name from property deeds
• 54:40 – Libby’s advice to others: financial awareness as a safeguard

Tone & Style

The episode is intimate, direct, and candid—giving Libby space to narrate her own experience with vulnerability and insight. Andrea’s narration frames the story with empathy and advocacy, highlighting systemic issues and the need for women’s financial empowerment.

Summary Takeaway:
Libby's story is a harrowing account of betrayal, loss, resilience, and rebirth. Through her ordeal, she urges others—especially women—not to surrender financial agency in relationships, and shows how, even at a great personal cost, speaking out can help others avoid similar devastation.