The American Reality TV couple, Todd and Julie Chrisley got hefty prison sentences on Monday after they were found guilty of bank fraud and tax evasion five months ago.
According to the US Attorney’s Office, Atlanta Judge Eleanor Ross handed Todd Chrisley a 12-year sentence and Julie Chrisley was given seven years. The judge also ordered that both serve a three-year supervised release after their prison sentences and pay restitution of an amount to be determined later.
The couple shot up to fame from their reality show, “Chrisley Knows Best,” which is about their close-knit family. In June this year, a federal jury in Atlanta found them guilty of tax evasion, fraud, and conspiracy to defraud the US.
Federal prosecutors accused the couple of engaging in an elaborate bank fraud scheme and hiding their wealth from the IRS while flaunting their rich lifestyle on television.
Prosecutors said that the Chrisleys had built their empire on a lie that they gained their wealth through hard work and dedication. The said the couple were career swindlers who made money through different fraud schemes, including stiffing vendors, lying to banks and tax evasion.
In addition to the other charges, Mrs. Chrisley was found guilty of obstruction of justice and wire fraud.
Mr. Chrisley’s attorneys argued that the 54-year-old should not get a prison term exceeding nine years, while Mrs. Chrisley’s legal team wanted her to get probation and zero prison time.
The couple’s accountant, 60-year-old Peter Tarantino, was also convicted of the willful filing of false tax returns and conspiring to defraud the IRS. He was given a three-year prison sentence and an additional three years of supervised release.
According to prosecutors, the couple managed to secure over $30 million in fraudulent bank loans by submitting fake documents to various banks in Atlanta. After their bank schemes fell apart, Todd Chrisley filed for bankruptcy, effectively dodging responsibility to repay the bank loans.
After filing for bankruptcy, the couple started production of their reality show, flaunting their lavish lifestyle and seemingly wealthy status to the public. The couple then hid the money they made from their reality show from the IRS from 2013 to 2016, which prosecutors estimate to be in the millions.
In their court filings, prosecutors cited how in 2013, while Mr. Chrisley was in the middle of a bankruptcy proceeding, he said in a promotional video of their show that he makes millions in a year, bragging that he and his family spend over $300,000 annually on clothes alone.
The prosecutors said the couple submitted false documents to a grand jury and convinced various family members to lie to the jury under oath during their trial.
Todd Chrisley’s lawyers argued that the prosecution did not produce hard evidence that he defrauded the banks, adding that the calculated loss was incorrect. They noted that Mr. Chrisley committed the offenses many years ago, has no serious criminal history, and has medical conditions. They therefore believed a prison sentence would be harsh.
His lawyers also argued that many relied on Mr. Chrisley, including his mother and numerous people employed by his reality show, who would be harmed if he went to prison.
In addition to the Chrisley’s bad news on Monday, November 21, a few days before their sentencing, their youngest son, Grayson Chrisley, 16, was hospitalized after sustaining injuries in a car accident last weekend in Nashville, Tennessee, after crashing into a stopped vehicle.