My layman's "opinion" is that they "may" try charging you with being a pimp or promoting ... both are usually felony.

If so you would probably stand a good chance of getting charged with pandering.

If this goes on with your knowledge, it puts you at great risk.  This must be compartmentalized...  "need to know".

If many trails lead back to you...  it looks like you are in on it.
skb

You could always try to plead ignorance of her activities but then you are committing perjury, another felony and one that has a higher conviction rate than straight pandering.

My advice?

Smarten up.  If you are party to her being in this business then run it right and protect yourself.

then she should use a business phone just like our hobby phone.
She should use a separate e-mail for business with one of those free services.
She should NOT provide from a location where you or her SLEEP.  Hotel, working comdo or ??
She needs to be sure to screen well.  
She should be putting money away for insurance purposes.

There's an advice video on here for ladies of what to do if arrested...  

The co-eds & amateurs may be hot in bed but if they are not up to the best practices of security, she'll be easy pickings for LE and YOU'll be collateral damage.
skb