Keeping up pretenses at the cost of integrity can cost one dearly. Multimillionaire real estate developer and entrepreneur Todd Chrisley and his complicit wife Julie Chrisley are the latest case in point. The two gained fame from the reality TV show Chrisley Knows Best, which documented the life of the Chrisleys and followed the family dynamic of the southerner folks. They enjoyed an indeed lavish lifestyle but not for long. It has now been revealed that the Chrisley couple committed multiple counts of bank fraud and tax evasion and have now been sentenced to a really long time behind the bars and a pretty hefty fine on top of it.
Todd and Julie Chrisley sentenced to a combined 19 years jail time and $17.2 million fine
Todd and Julie Chrisley have been charged with bank fraud, and tax evasion charges. In addition, the missus has also been accused of submitting a false credit report and fake bank statements in an attempt to rent a California property, for which the couple refused to pay rent for a few months as well.
For the $36 million fraud, the couple has been sentenced to a combined 19 years in prison. Todd Chrisley got 12 years of jail time in addition to 16 months of probation, while Julie has been sentenced to seven years behind bars and 16 months of probation.
On top of the jail time, the reality star couple has also been ordered to pay $17.2 million in restitution by Atlanta US District Court’s Judge Eleanor Ross. US Attorney Ryan K. Buchanan made a statement regarding the heinous charges.
“Over the course of a decade, the defendants defrauded banks out of tens of millions of dollars while evading payment of their federal income taxes. Their lengthy sentences reflect the magnitude of their criminal scheme and should serve as a warning to others tempted to exploit our nation’s community banking system for unlawful personal gain.”
The trouble has only just begun for the former power couple who has now to raise the multimillion compensation by hook and only by hook.
Accidents after accidents
According to insiders, the only feasible way for the Chrisleys to raise the compensatory amount is to sell their two Nashville, Tennessee, mansions whose worth closes at almost $9 million. The source said,
“They’re going to have to give up a lot of things, including their homes, sadly. They won’t be able to afford it. But their main concern now is their children, especially their youngest boy.”
The Chrisley family was recently facing a joint crisis when the youngest Chrisley progeny, 16-year-old Grayson Chrisley was in a car crash on the Tennessee interstate and has been hospitalized since. And now that the parents are going to jail, the custody of the youngest Chrisley sibling has gone to 25-year-old Savannah Chrisley, who is second in line after the oldest kid in the family, Chase Chrisley, 26 years old.
The Chrisleys have to sell two Nashville mansions to raise the obligatory amount
As far as the two Chrisley properties are concerned, the first one was bought by the couple in 2016 when they had first moved to Nashville, Tennessee. It was a 5,200 plus square feet Belle Meade four-bedroom home that they got for $1.6 million. As of today, the mansion has an estimated worth of $2.88 million.
The couple bought another home in the Brentwood neighborhood three years later and tried to flip it two months later. The bigger property consisted of six bedrooms and nine bathrooms spanning over 13,200 square feet and was acquired by them for $3.37 million. The current worth of the abode is an estimated $5.97 million.
Ever since flipping the property, it was being put on and off the market for an average asking price of $4.7 million but was taken off for good when no good offers came till May 2020.
Now the Chrisleys have to bid adieu to both their sprawling mansions and still raise more to fulfill their obligations. Your crimes do catch up to you.
Also Read: ‘They didn’t accept any responsibility, even after they were convicted’: $3M Rich Reality TV Icons Todd and Julie Chrisley Were Served Such Brutal Prison Sentences as They Kept Acting Like Privileged Brats