Teresa And Joe Giudice Plea GUILTY! [VIDEO] Real Houswives of New Jersey Stars Definitely Goiing To Prison For Fraud Charges

Teresa and Joe Giudice plead guilty to their fraud charges! After a not guilty plea for months, Joe and Teresa have made a plea deal with the federal prosecutors to have a fixed sentence instead of going to trial. The prosecutors made them make the plea in a package deal meaning Joe and Teresa would both have to make a plea together. The guilty plea could be a smart move for the Real HOusewives of New Jersey star.

The guilty plea will be given on Tuesay, March 4th and the sentencing will take a while for the prosecutors to conclude. But most likely Teresa will get a maximum of 2 years in prison Joe Giudice will get a minimum of 3 years. The RHONJ coule will have to pay asbout $11 million in restitution. Basically Teresa and Joe will both be traken away from their lavish home and loving family to serve time behind bars. Was it worth is Teresa and Joe?! Everything comes at a price.

What will happen to the four Giudice daughters? The four children will most likely go to Joe's brother or Teresa's parents. Teresa Giudice's father is currently in the hospital and checked in on Feb. 16th. Teresa has always been there for her father and the two were very close as seen on Real Housewives of New Jersey and the stress may be too much for her father to take. A friend told RadarOnline, "Teresa is very close to her father, and it was devastating to see him lying in a hospital bed - she's already so stressed, and this just broke her heart. She's going through an extremely difficult time." A difficult time would be an understatement for the Housewives star. The children may be losing their parents AND grandfather come Teresa and Joe's sentencing after the plea deal.

Below is a summary of their Joe and Teresa's serious fraud charges:

1) Mail Fraud and Wire Fraud: The indictment states that between 2001-2008, using the U.S. mail, private carriers and wire communications, they defrauded 7 different banks and mortgage lenders.

2) Bank Fraud: The indictment states 5 banks were defrauded by submitting applications with false tax returns, pay stubs, and W-2s that gave false salaries and income. In total they stole $4.5 million from various banks.

3) Loan Application Fraud: For making false statements in those bank loan applications

4) Bankruptcy Fraud: Concealment, False Oaths, False Declarations. These are 22 different counts alone. In essence, they lied to the BK courts (under oath) about their finances and they knowingly filed false documents to conceal their income. That's perjury. Tre & Joe never withdrew their bankruptcy, the courts denied their petition on suspicion of fraud.

5) Failure to Make Tax Returns: These counts are all against Joe, and claim he didn't file tax returns from 2004-2008.

6) Teresa signed false loan application claiming she was a real estate broker earning $50,000 per month.

Joe Giudice, whose real first name is Giuseppe, is an Italian citizen. Thus, he could face deportation if he is convicted.

Joe Giudice, 43, was released on a $500,000 bond secured by his father, Frank. Teresa Giudice, 41, was released on a $500,000 unsecured bond.

The duo also had their travel restricted to New Jersey and New York and had to surrender their passports.

The pattern of alleged fraud may have lasted a decade," U.S. Attorney Paul Fishman said.

"They're serious charges," he said.

 "They are alleged to have made false statements to the bankruptcy court and the banks that lent them money," Fishman told press.

In an official statement, Teresa Giudice discussed the charges.

"I support Joe and, as a wonderful husband and father, I know he wants only the best for our lovely daughters and me," she said. "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."