The future of Bravo’s “Real Housewives of New Jersey” does not look bright after the show's stars Teresa Giudice and husband Joe Giudice were handed down federal fraud charges early this week.

Bravo executives are reportedly planning to cancel the show, following bad publicity for the Giudices. “Nobody wants to see their talent in this kind of a situation,” a network source told the New York Daily News.

Bravo has not released an official statement regarding the future of the show, but the source added that Teresa will now have to give up hopes of ever clinching a spin-off show. “They are not interested. Bravo only spins off happy situations — marriages, baby news. Not prison,” the source added.

According to reports, the Giudices were charged Monday in a 39-count indictment with conspiracy to commit mail and wire fraud, bank fraud, making false statements on loan applications and bankruptcy fraud.

Teresa is expected to plead not guilty on August 14. The couple’s financial troubles have been widely documented in the reality series, and the Giudices are said to have filed for bankruptcy sometime between season one and season two.

The show is currently in its fifth season.

Bravo’s legal involvement in the case is expected to increase, as Darren Del Sardo, a New Jersey-based attorney, told FOX411’s Pop Tarts column that employees involved in the filming of “Real Housewives of New Jersey” might be called in as witnesses.

“The network could also be called as a witness to support an increase of anticipated income paid by Bravo to Teresa that was not disclosed in her bankruptcy filing,” Sardo said. “In addition, they could be asked questions regarding the Giudices' business operations that Bravo followed at the time of the filing.”