Todd and Julie Chrisley Sentenced for Tax Evasion and Bank Fraud
The two will spend a combined 19 years in federal prison.
Todd and Julie Chrisley have officially been sentenced.
The couple–best known for the USA Network reality TV series Chrisley Knows Best–was found guilty of tax evasion and bank fraud back in June of this year, and today, the duo learned that they would be spending a combined 19 years behind bars.
Todd, 53, was sentenced to 12 years in federal prison, followed by three years of supervised release. While his wife Julie, 49, received seven years in prison followed by three years of supervised release, according to the U.S. attorney's office.
“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,” U.S. Attorney Ryan K. Buchanan stated in the release.
Buchanan continued: “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 duo's lawyer, Peter Tarantino, 60, was also convicted of multiple tax-related violations and sentenced to three years in prison, followed by three years of supervised release.
“The Chrisleys defrauded financial institutions and the Federal Government through tax evasion and other fraudulent means in an effort to minimize their tax liability, but project an image of wealth,” said James E. Dorsey, who led the IRS' criminal investigation into the couple. “This sentencing serves notice that no matter a person’s celebrity status, there are severe consequences for defrauding the American tax system.”
According to prosecutors, the two conspired to defraud community banks in the Atlanta area to obtain more than $36 million in personal loans. Then, with the help of their former business partner, they submitted false bank statements, audit reports, and personal financial statements to Georgia community banks to obtain the loans. They also failed to file tax returns or pay any taxes for the 2013, 2014, 2015, or 2016 tax years.
"The Chrisleys spent the money on luxury cars, designer clothes, real estate, and travel–and used new fraudulent loans to pay back old ones. After spending all the money, Todd Chrisley filed for bankruptcy and walked away from more than $20 million of these fraudulently obtained loans," as per the release.
As it turns out, Chrisley doesn't know best.
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