Prosecutors said the Greens paid the former Thai head of tourism $2 million dollars for contracts to run the 2007 festival and a related tour that generated $13.5 million dollars in revenue.
Over the years the Thai festival has become a key part of the international film circuit.
Gerald Green's credits include "Salvador" and "Rescue Dawn." Patricia Green produced "Diamonds," a comedy starring Kirk Douglas.
Prosecutors asked for a minimum 10 years in prison, but the defense is asking for home detention.
City News Service and the Associated Press contributed to this report.