“Real housewife” faces the slammer

It looks like two stars of Bravo TV’s “Real Housewives of New Jersey” may be spending some real time in the clink.

Teresa Giudice and her husband, Giuseppe “Joe” Giudice, pleaded guilty to mortgage fraud, bankruptcy fraud, mail fraud and not paying taxes following a 41-count indictment. Teresa faces 27 months in prison and her husband could get up to 46 months and a likely deportation since he is an Italian citizen.

According to the indictment, from 2001 to 2008, the couple submitted fraudulent documents in order to obtain mortgage loans. The Giudices submitted loan documents saying they were employed or earning substantial salaries when in reality, they were neither employed nor receiving those salaries, according to the indictment.

In one instance, Teresa Giudice obtained a mortgage loan for $361,250 after falsely stating on the loan application that she was a Realtor earning a monthly salary of $15,000 even though she was not employed at the time.

Court documents show that in 2009 the dynamic duo filed for bankruptcy. As part of the filing they were required to disclose their assets, liabilities and income to the court trustee. The indictment says the couple intentionally concealed the businesses they owned and the income Giudice received from the television show “The Real Housewives of New Jersey.”

Joe Giudice also failed to pay his taxes for four years according to the court papers, though Jumping Joe admitted earning $996,459.

Sentencing for the reality fraudsters is scheduled for July 8. TMZ reports that that Bravo is rushing to complete season six of the show just in case Teresa goes to the slammer. No doubt they will capitalize on the drama of the Giudices’ legal woes. Makes for ratings gold.