The couple were arraigned in federal court on Wednesday, reported New Jersey's  Star-Ledger . They entered a not-guilty plea in front of U.S. District judge Esther Salas in Newark at 2:30 p.m. ET.

In July, the Bravo stars  were charged with 39 counts , including mail and wire fraud, bank fraud, bankruptcy fraud, making false statements on loan applications and failure to file tax returns. The Giudices were later released  on a $500,000 bond , but didn't enter a plea at the time.

Also read: Teresa Giudice and Joe Giudice Released on $500,000 Bond Over Fraud Charges

The conspiracy to commit mail and wire fraud count carries a maximum potential penalty of 20 years in prison and a $250,000 fine. The bank fraud and loan application fraud counts each carries a maximum potential penalty of 30 years in prison and a $1 million fine. The bankruptcy fraud counts each carry a maximum penalty of five years in prison and a $250,000 fine. The failure to file a tax return counts each carries a maximum penalty of one year in prison and a $100,000 fine.

Also, Joe, is at risk of being deported to Italy if found guilty. The 43-year-old moved to the U.S. as a child but never became a citizen.

In 2009, the couple filed for bankruptcy, but prosecutors said they concealed businesses, property and lied about Teresa's income.

http://www.thewrap.com/tv/article/real-housew...day-110676