Todd and Julie Chrisley, from the hit TV show “Chrisley Knows Best,” were found guilty of bank fraud and tax evasion this Tuesday after their three weeks of trial. Prosecutors argue that the southern Couple illegally obtained about $30 million from local banks between the years 2007 and 2012. They have been accused of increasing their net worth in order to get loans from smaller banks and hiding millions made from their tv reality show that began back in 2014.
Jurors started deliberations Friday and revealed their ruling on Tuesday. The jury found Todd, who is 53, and Julie, who is 49, guilty of conspiracy relating to bank fraud, and conspiracy to defraud the United States along with tax fraud. Julie was convicted of wire fraud on top of the other charges.
In addition, the Couple allegedly hid $500,000 in taxes. Bruce H. Morris, who is Todd’s attorney, declared that they were the victims and a man named Mark Braddock was accountable for the frauding. He claims that without their knowledge, the man oversaw Todd’s company, Chrisley Asset Management. They reportedly were unaware and fired him in 2012.
The jury believed the Couple used at least $30 million in borrowed funds to live lavishly. Then, claimed bankruptcy and walked away from $20 million in unpaid loans a year later. s he and his wife became stars of the reality show “Chrisley Knows Best.” The Couple, and their accountant Peter Tarantino, allegedly hid their funds from the IRS. Over $500,000 in Todd Chrisley’s taxes were owed in 2009.
Morris states Braddock proceeded to the U.S. Attorney’s Office and was given federal immunity in trade for evidence against the Couple.
Keri Farley, Agent in the FBI in Atlanta, expressed her satisfaction with justice being served.
“As today’s outcome shows, when you lie, cheat and steal, justice is blind as to your fame, your fortune, and your position. n the end, when driven by greed, the verdict of guilty on all counts for these three defendants proves once again that financial crimes do not pay.”
The Chrisleys are planned to be sentenced on October 6th and may face up to 30 years in the big house.
Todd and Julie were first indicted for tax evasion in 2019. They turned themselves in and were relieved of $2 million in tax evasion.