Teresa Giudice And Husband Charged With 39 Counts Of Fraud, Face Up To 50 Years In Prison

Well this doesn't look good!

On Monday, Real Housewives of New Jersey stars Teresa Giudice, 41, and her husband, Giuseppe “Joe” Giudice, 43, were charged by a federal grand jury on 39 counts, including conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud. In addition, the indictment also charges Giuseppe with failure to file tax returns from 2004 through 2008 -- when he allegedly made nearly $1 million.

"Today is a most difficult day for our family. I support Joe and, as a wonderful husband and father, I know he wants only the best for our lovely daughters and me," Teresa said in a statement to Us Weekly. "I am committed to my family and intend to maintain our lives in the best way possible, which includes continuing my career. As a result, I am hopeful that we will resolve this matter with the government as quickly as possible."

Despite the Jersey girl's desire to resolve this matter, the outcome looks grim. “The indictment returned today alleges the Guidices lied to the bankruptcy court, to the IRS and to a number of banks. 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,” said U.S. Attorney Paul J. Fishman in a press release from the New Jersey Attorney's office.

Teresa's attorney, Henry Klingeman, also said in a statement, "Teresa will plead 'not guilty.' The judicial process that begins today with an indictment is a search for the truth. As it moves forward, we look forward to vindicating her."

Bank fraud carries up to 30 years in prison, while conspiracy to commit mail and wire fraud carries a maximum sentence of 20 years. If convicted, Teresa could face up to 50 years behind bars. Giuseppe faces an additional 10 years in prison for allegedly using his brother's ID in 2010 to get a fake driver's license.