According to the report, the “Real Housewives of New Jersey” originally plead not guilty, but have changed their plea.
In 2013 Joe and Teresa Guidice were charged with 39 counts of conspiring to defraud lenders as well as hiding assets in a bankruptcy case.
"I'm the rock. I can't fall apart," Teresa, 41, told E! News in October. "If I fall apart the rest of the family is going to fall apart. I'm just focusing on my four beautiful daughters, my husband and that's it."
The couple have petitioned the court to be tried separately, and could be facing serious jail time. They are also the parents of four young daughters.
What do you think will happen to Joe and Teresa Guidice? Do you think the "Real Housewives of New Jersey" stars will end up in jail?