Teresa And Joe Giudice Fraud Update: The Real Housewives of New Jersey stars accused of a whopping 39 counts of fraud, plan to have their four daughters live with Joe Giudice's brother if the reality couple are both sentenced to jail.

Joe and Teresa Guidice will very likely serve time considering how much evidence prosecutors have on them. On Watch What Happens Live, when asked about the outcome with the fraud charges, ex prosecutor Nancy Grace quipped that Teresa and Joe Guidice 'are going down!' The HLN host is sure that not only is Joe guilty, but his wife Teresa is just as much an accomplice in their financial schemes.

Joe and Teresa Guidice are to arrive in court on fraud charges in February to face their sentence on the fraud charges. Decisions about the children's future is somethiing Teresa and Giudice need to start strategizing.Teresa Giudice has previously said that if they go to jail for fraud that she will NOT let her brother Joe Gorga and sister-in-law Melissa take their kids no matter how much the children adore their aunt and uncle.

 Joe Giudice has confirmed that if they go to prison their four daughters will be taken care of by Joe's brother, Pete Guidice. We will find out the childrens' futures in February 2014.

Joe and Teresa Giudice seem to have been living in denial until now, going to parties and posting fun twitter pics for some time now. On the Real Housewives of New Jersey reunion Teresa admits that she 'cries herself to sleep' and she is 'nervous for her family.' Though she doesn't think she deserves the fraud charges, Teresa is starting to see that jail is a huge possibility.

The Giudices are in danger of going to jail for 50 years. Joe and Teresa plead not guilty to a whopping 39 counts of fraud. They included bank fraud, bankruptcy fraud, and conspiracy to commit mail and wire fraud. Joe is also accused of failing to file tax returns for 2004 through 2008.

Although Teresa thinks that she won't be going to jail because a judge 'couldn't possibly take four children away from their mother' the possiblity of jailtime for the Jersey Housewife is very possible. 

Teresa and Joe Giudices were charged with a whopping 39 counts of fraud. They include bank fraud, bankruptcy fraud, and conspiracy to commit mail and wire fraud. Joe is also accused of failing to file tax returns for 2004 through 2008.

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

The Giudices, who live in Montville Township, N.J., are facing charges of exaggerating their income while applying for loans before their reality TV show debuted.

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.

They also failed to file tax returns from 2004-2008.

On Watch What Heppens Live Teresa adds that "I can't fall apart. I have my daughters. They mean the world to me."