Joe Giudice and Teresa Giudice Joe Giudice and Teresa Giudice

Real Housewives of New Jersey stars Teresa and Joe Giudice pleaded guilty to fraud charges in Newark Federal Court Tuesday, and both could face prison time as a result, the New York Daily News reports.

Teresa Giudice, who agreed to pay $200,000 at the time of her sentencing, faces up to 27 months in prison. Joe Giudice, who is an Italian citizen, faces up to 46 months in prison and will "likely" face deportation after he serves his sentence, the Daily News reports. They will be sentenced on July 8.

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The Giudices, who have four children, pled guilty to charges including bankruptcy fraud, mail fraud, and tax evasion. They initially pleaded not guilty to the charges, and their trial was scheduled to begin next month.

Their lawyer read a statement on behalf of Teresa after the couple's court appearance Tuesday. "Today, I took responsibility for a series of mistakes I made several years ago," the statement reads, according to the News. "I am heartbroken that this is affecting my family — especially my four young daughters, who mean more to me than anything in the world."

Teresa plans to continue appearing on Real Housewives, which will begin filming its sixth season later this year, according to the News.