RHONJ: Teresa Giudice, Joe Giudice Indicted For Financial Fraud, Facing 50 Years In Prison, Bravo Captures Reactions On Camera?

The Real Housewives of New Jersey star Teresa Giudice and her husband Joe Giudice have been charged Monday with financial fraud.

According to RadarOnline, the reality star couple could face 50 years in prison if found guilty. "The indictment returned today alleges the Guidices lied to the bankruptcy court, to the IRS and to a number of banks," as source says. "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 face a 39-count indictment for conspiracy to commit mail and wire fraud, bank fraud, lying on loan applications, and bankruptcy fraud. Joe is also being charged with failure to file tax returns for 2004 through 2008.

Allegedly, the couple lied on their loan applications by making up fake documents about their jobs claiming they made more than their current salary.

 According to RadarOnline, Special Agent in Charge, IRS-Criminal Investigation, Shantelle P. Kitchen said, "The privilege of living well in the United States carries certain real responsibilities, including filing tax returns when required and paying the correct amount of tax."

 Kitchen added, "Today's indictment alleges the Giudices did not live up to their responsibilities by failing to file tax returns, falsifying loan applications and concealing assets in their bankruptcy petition. The reality is that this type of criminal conduct will not go undetected and individuals who engage in this type of financial fraud should know they will be held accountable."