Teresa and Joe Giudice are getting a serious taste of reality.
The “Real Housewives of New Jersey” stars were indicted on Monday on 39 separate counts of financial fraud.
A federal grand jury released an indictment, which details charges of conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud.
Teresa’s attorney says she will plead not guilty and that “we look forward to vindicating her.”
While in her own personal statement, she said: “Today is a most difficult day for our family.”
She has vowed to support her husband and continue forth with her reality TV career.
Teresa, 41, and Giuseppe “Joe”, 43, of Montville Township, N.J., submitted fraudulent mortgage and other loan applications from 2001 through 2008, a year before their show debuted on Bravo, making phony claims about their employment status and salaries, the indictment reads.
Additionally, Joe also failed to file tax returns for the years 2004 through 2008, when he is alleged to have earned nearly $1 million, the government said.
The US Attorney claims the Giudices conspired to illegally obtain mortgages and other loans from multiple banks by intentionally overestimating their incomes in order to get more money.
When Teresa filed for a mortgage loan of $121,000 in 2001, she falsely claimed she worked as an executive assistant, submitting fake W-2 forms and fake paystubs as part of the ruse, the indictment said.
“The indictment returned today alleges the Giudices lied to the bankruptcy court, to the IRS and to a number of banks,” U.S. Attorney Paul 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 couple are expected to make an initial court appearance on Tuesday in Newark.
If convicted, they face a maximum sentence of more 50 years in prison.