Todd and Julie Chrisley’s Prison Sentence Explained: Net Worth, More

Todd and Julie Chrisley’s Prison Sentence Explained: Net Worth, More

Todd and Julie Chrisley were once famous as the loving parents on 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.

Shutterstock/Kathy Hutchins

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

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

“The Chrisleys have built an empire based on the lie that their wealth came from dedication and hard work,” prosecutors wrote in a sentencing memo, as of Variety. “The jury’s unanimous verdict sets the record straight: Todd and Julie Chrisley are career fraudsters who have made a living by jumping from one fraud scheme to another, lying to banks, stiffing salespeople and evading taxes at every turn.”

Who are Todd and Julie Chrisley and what happened?

Todd and Julie Chrisley graced the small screen for the first time in 2014, with their litter 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 packed with wholesome family hiinx and country glamour, the family worked their way to reality TV stardom with several spin-off business ventures like their “Chrisley Confessions” podcast.

But while the family patriarch told viewers he was a Georgia real estate tycoon who raised his children with the best of the best, prospectors claimed he illegally amassed millions and evaded taxes during this time to fund their lavish lifestyle.

According to prosecutors, 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 made off with $20 million of the fraudulently obtained loans, which were spent on “luxury cars, designer clothing, real estate and travel,” the U.S. attorney’s office for the Northern District of Georgia said in a news release.

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

The parents were indicted on federal tax evasion charges in 2019, according to 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, wire fraud, conspiracy to defraud the United States, and tax fraud, while Julie was convicted of conspiracy to commit bank fraud, bank fraud, conspiracy to defraud the United States, tax fraud, and wire fraud.

Following their guilty verdicts, they were released on their existing bond and were ordered to participate in a home detention program while awaiting sentencing.

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

After being hit by their lengthy prison sentences, Todd and Julie Chrisley still maintain their innocence in the scandal and, according to their lawyer Alex Little, of Burr & Forman LLP, they plan to fight the ruling.

“Todd and Julie are people of faith, and that faith gives them strength as they appeal the conviction,” the lawyer said in a statement to CNN, claiming the trial was “marked by serious and repeated errors” and that “we are optimistic about the way forward forwards.”

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

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

The children are reportedly struggling with the sentence and Greyson is “dealing with it the worst”, a source told The 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, along with its spin-off series “Growing Up Chrisley,” but NBCUniversal has yet to officially confirm the news.

What is Todd and Julie Chrisley’s net worth?

While the Chrisleys will be ordered to pay restitution, which will be determined at a later date, their reported net worth is only a fraction of the millions owed.

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

Leave a Reply

Your email address will not be published. Required fields are marked *