Todd and Julie Chrisley’s prison sentence explained: net worth, more

Todd and Julie Chrisley were once known as the lovable parents on the USA Network’s hit series “Chrisley Knows Best,” but it all came crashing down when they were found guilty of numerous counts of fraud and tax evasion.

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Despite branding themselves (and the show) on their “southern values,” according to prosecutors, the pair allegedly engaged in a “15-year-long fraud wave,” defrauding banks with $30 million in fraudulent loans. Todd was sentenced to 12 years in prison and 16 months of probation, while Julie was slapped with a seven-year sentence and 16 months of probation.

Yet the reality stars claim to be innocent – as someone else was in charge of their finances.

“The Chrisleys built an empire on the lie that their wealth came from dedication and hard work,” the prosecutors wrote in a memo about the conviction. Variety. The unanimous verdict of the jury sets the record straight: Todd and Julie Chrisley are career con artists who have made a living jumping from one fraud scheme to the next, lying to banks, defrauding salespeople and evading taxes at every turn. “

Who are Todd and Julie Chrisley and what happened?

Todd and Julie Chrisley first graced the small screen in 2014, with their brood of 6: Lindsie Chrisley, 33, Kyle Chrisley, 31, Chase Chrisley, 26, Savannah Chrisley, 25, and Grayson, 16, and granddaughter Chloe, 10 , (they have full custody).

With their Keeping Up With the Kardashians style show brimming with wholesome family hijinx and country glamour, the family worked their way to reality TV stardom with several spin-off business ventures like their podcast “Chrisley Confessions”.

But while the patriarch of the family told viewers he was a real estate magnate from Georgia who raised his children with the best of the best, gold diggers claimed he had illegally acquired millions during this time and evaded taxes to fund their lavish lifestyles.

Prosecutors say the parents falsified documents to obtain more than $30 million in bank loans, and when they were unable to repay the loans, they filed for bankruptcy in 2012, per People. After the bankruptcy, Todd walked away with $20 million of the fraudulently obtained loans, which were spent on “luxury cars, designer clothes, real estate and travel,” the Northern District of Georgia’s U.S. Attorney’s Office said in a statement. press release.

In addition, they were charged with attempting to defraud the IRS after failing to file taxes from 2013 to 2016. Their accountant, Peter Tarantino, was convicted of filing false corporate tax returns on behalf of Julie’s business bank account, which was set up to hide money from the IRS. tax authorities. At the same time as the Chrisleys, Tarantino was sentenced to three years in prison and three years on supervised release.

The parents were indicted in 2019 on federal tax evasion charges USA today, but despite maintaining their innocence, they were found guilty after a jury trial in June. Todd was convicted of conspiracy to commit bank fraud, bank fraud, conspiracy to defraud the United States, and commit tax fraud, while Julie was convicted of conspiracy to commit bank fraud, bank fraud, conspiracy to defraud the United States, tax fraud, and telegrams. fraud.

After pleading guilty, they were released on their existing bail and ordered to participate in a house arrest program pending sentencing.

Where are Todd and Julie Chrisley now and what does this mean for their family?

After being stricken with their long prison sentences, Todd and Julie Chrisley are still claiming their innocence in the scandal, and according to their lawyer Alex Little, of Burr & Forman LLP, they intend to challenge the ruling.

“Todd and Julie are people of faith, and that faith gives them strength as they appeal against their beliefs,” the lawyer said in a statement to CNNclaiming that the process was “marred by serious and repeated errors” and that “we are optimistic about the road ahead”.

Despite their plans to appeal the judge’s decision, they are expected to report to prison on January 1, 2023, according to The New York Times.

In the absence of her parents, daughter Savannah may get custody of the two underage Chrisley, Grayson, 16, and granddaughter Chloe, 10, she said on her “Unlocked” podcast hours before the verdicts were announced.

The kids are reportedly struggling with the verdict, with Greyson “handling this the worst,” a source told me The American sun. Just days before the verdict was announced, Greyson was involved in a car accident and was hospitalized for his injuries, but has since returned home.

As for the fate of the family’s TV show, deadline reports that the show was canceled after nine seasons and two guilty verdicts, alongside their “Growing Up Chrisley” spin-off series, but NBCUniversal has yet to officially confirm the news.

What is Todd and Julie Chrisley’s net worth?

While the Chrisleys must pay a refund, to be determined at a later date, their reported net worth is only a fraction of the millions they owe.

According to Net worth of celebrities, Todd has a net worth of $1.5 million. In addition, he owns a 30,000 square foot house and spends $300,000 a year on clothes. Julie also has a reported net worth of $1.5 million.