Teresa and Joe Giudice Plead Guilty to Fraud Charges

Teresa Talks Jail
Teresa Giudice opens up about her potential jail time.
Teresa and Joe Giudice has have a change of heart.

Just seven months after saying they were not guilty of fraud charges, the Real Housewives of New Jersey couple have changed their minds, pleading guilty in Newark Federal Court Tuesaday. The husband-and-wife duo have been slapped with a total of 41 counts of mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud.

Joe, 43, is also charged with failing to file tax returns for five years — during which time he earned nearly $1 million — while Teresa, 41, is accused of hiding her income from her Bravo reality series and business ventures when the family applied for bankruptcy back in 2009.

“Today, I took responsibility for a series of mistakes I made several years ago,” she said in a statement obtained by Celebuzz. “I have said throughout that I respect the legal process and thus I intend to address the Court directly at sentencing. I will describe the choices I made, continue to take responsibility for my decisions, and express my remorse to Judge Salas and the public. I am heartbroken that this is affecting my family–especially my four young daughters, who mean more to me than anything in the world. Beyond this, I do not intend to speak specifically about the case outside of court, at the recommendation of my attorney and out of deference to the Government and our legal system.”

Teresa’s husband could face 37 to 46 months in jail, while the reality star herself may receive a 21 to 27 month sentence. Joe, who was born in Italy and is not a U.S. citizen, may also deported.

They are both scheduled to be sentenced on July 8.