"Twelve years ago, as a young teenager, I acted inexcusably"

In an exclusive statement to PEOPLE, Josh Duggar, his wife Anna, and his parents Jim Bob and Michelle are speaking out in response to reports that Josh was once accused of molesting five underage girls as a teen.

“Twelve years ago, as a young teenager, I acted inexcusably for which I am extremely sorry and deeply regret. I hurt others, including my family and close friends,” Josh, 27, tells PEOPLE in a statement. “I confessed this to my parents who took several steps to help me address the situation. We spoke with the authorities where I confessed my wrongdoing, and my parents arranged for me and those affected by my actions to receive counseling. I understood that if I continued down this wrong road that I would end up ruining my life.”

Josh has resigned from his position at the Family Research Council as a result of the accusations becoming public, but his family has stood behind him.