"Real Housewives of New Jersey" star Teresa Giudice and her husband, Joe Giudice, have pleaded guilty to an 8-year fraudulent scheme that illegally obtained millions of dollars in loans. The Giudice couple each pleaded guilty to three counts of bankruptcy fraud by testifying falsely, making false declarations in a court filing and concealment of assets and one count of conspiracy to commit wire and mail fraud. Meanwhile, Joe Giudice pleaded guilty to one count of failure to file a tax return in year 2004.
Teresa faces 27 months in jail while her husband, Joe could get 46 months. Pleading guilty could also land Italian citizen Joe could even face deportation. The RHONJ star is reportedly hoping to serve her jail time under house arrest, according to Radar Online. "Before Teresa is sentenced formally by the judge, she will meet with the U.S. Probation Department and a report will be prepared. This report will outline recommendations for sentencing for the consideration of the judge and one of those items will include if house arrest is suitable for Teresa," a source said. However, federal prosecutors said it's unlikely the Giudice spouses will avoid their new reality in jail.
"The fact that Teresa has four children and is the family's breadwinner will help her drastically when it comes to determining of house arrest is suitable," the source added. Teresa reportedly hopes to serve her jail time at home because the mere idea of going to jail absolutely terrifies her. "Today, I took responsibility for the series of mistake I've made several years ago," the 41-year-old reality star said in a statement after she pleaded guilty. "I have said throughout that I respect the legal process and I intend to address the court directly at sentencing. I will describe all the choices I made, continue to take responsibility for my previous decisions and express my remorse to Judge Salas and the public."
Teresa used to insist that they were "good people," but the Montville couple admitted they conspired to defraud lenders and banks by submitting fraudulent loans worth $5 million in construction loans, lines of credit and mortgages from 2001 to 2008.