Real Housewives of New Jersey stars Teresa and Guiseppe "Joe" Guidice were indicted on federal charges of bank and bankruptcy fraud Monday.
FOX reported that the reality husband and wife were charged in a 39-count indictment in Newark, N.J., in a conspiracy to defraud lenders and illegally obtain mortgages during a bankruptcy case, according to U.S. Attorney Paul J. Fisherman.
Teresa, 41, and Joe, 43 have been accused of committing mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud by a federal grand jury.
The two reportedly submitted fraudulent mortgage and other loan applications from 2001 through 2008, a year before their show aired on the Bravo network. Prosecutors also said the couple made false claims about their employment status and salaries.
"The indictment returned today alleges that the Guidices lied to the bankruptcy court, to the IRS and to a number of banks," U.S. Attorney Fishman said. "Everyone has an obligation to tell the truth when dealing with the courts, paying their taxes and applying for loans or mortgages. That's reality."
The indictment also charges Joe Giudice with faling to file his tax returns from 2004 through 2008, which he reportedly earned nearly $1million.
TMZ noted that if the couple is convicted, they can both face more than 50 years in jail. The site also reported that neither Teresa or Joe have been arrested, though they are scheduled to make an appearance in court Tuesday.
"The privilege of living well in the United States carries certain real responsibilities..." Shantelle P. Kitchen, Special Agent in Charge, IRS-Criminal Investigation, Newark Field Office, said. "Today's indictment alleges the Giudices did not live up to their responsibilities by failing to file tax returns, falsifying loan applications and concealing assets in their bankruptcy petition."
Teresa began starring on Bravo's Real Housewives show back in 2009. Her husband's legal problems have been discussed on the show. The couple have four daughters together.
In a statement issued by Teresa's attorney, the reality star will plead not guilty and that "we look forward to vindicating her."
Teresa also released her own statement, saying, "Today is a most difficult day for our family."