They'll swap good times for jail time

BUFFALO, N.Y. - A New York couple whose lavish lifestyle was featured on an episode of the ABC reality show "Wife Swap" have pleaded guilty to federal charges of hiding money from the government.

Ralph Guastaferro, 62, faces up to nearly five years in prison for laundering $1.2 million for a Canadian telemarketing scheme through two business checking accounts he opened.

His wife, Karen, 55, could be sentenced to up to 16 months for paying employees of the couple's glass-tinting business off the books, according to the U.S. Attorney's Office.

Authorities were apparently investigating the Amherst couple before they appeared in 2008 on "Wife Swap," which showed them keeping a Christmas tree up year-round and giving their daughter presents every day.

Clips of the episode, which also showed the Guastaferros giving their daughter, Alicia, a new Chevrolet Tahoe even though she was too young to drive, received hundreds of thousands of hits on YouTube.

Their attorneys said in court Tuesday that the family now is doing poorly financially.

As part of his plea deal, Ralph Guastaferro agreed to pay a fine of $100,000 in addition to any prison time. The government already has seized $14,544 from him.

His wife admitted that between 2004 and 2008, she failed to report wages for herself, her husband and other employees of their shop. In 2008, for example, she reported having three employees when there were five.