Reality TV stars Todd and Julie Chrisley were handed a combined sentence of nearly 20 years behind bars by an Atlanta judge on Monday after they were convicted in June on federal charges including bank fraud and tax evasion.
U.S. District Judge Eleanor Ross dealt a sentence of 12 years in prison with three years of supervised release for Todd Chrisley and seven years in prison and three years of supervised release for Julie Chrisley. They must also pay restitution in an amount set to be determined at a later date.
Their accountant, Peter Tarantino, was found guilty of conspiracy to defraud the IRS and willfully filing false tax returns. He was also sentenced to three years in prison and three years of supervised release on Monday.
Todd and Julie Chrisley are stars of the reality television show “Chrisley Knows Best,” which aired on USA Network and followed Georgia real estate tycoon Todd and his wealthy, close-knit family.
The show has since been canceled.
Millions in Personal Loans
Prosecutors alleged that the couple submitted fake bank statements, audit reports, and personal financial statements to banks in the Atlanta area in order to obtain more than $36 million in personal loans.They further claimed that the Chrisleys spent the money on luxury cars, designer clothes, real estate, and travel and also used the 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,” prosecutors said in a press release from the Department of Justice.
Later, while raking in millions from their TV show, the couple, along with their accountant Tarantino, allegedly conspired to defraud the IRS by hiding the millions they made from the agency.
Prosecutors said that in order to “evade collection of half a million dollars in delinquent taxes owed by Todd Chrisley, the Chrisleys opened and kept the corporate bank accounts only in Julie Chrisley’s name.”
After the IRS requested information about bank accounts in Julie Chrisley’s name, the Chrisleys then “transferred ownership of the corporate bank account to a relative to further conceal their income from the IRS,” they said.
Prosecutors further alleged that the Chrisleys also attempted to obstruct justice before being charged as well as during the trial.
They claimed that the couple submitted a false document to a grand jury that was investigating their crimes to make it appear as though they had not lied to the bank when they transferred ownership of the loan-out company’s bank account to their relative.
‘Lengthy Sentences Reflect the Magnitude of Their Criminal Scheme’
“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,” said U.S. Attorney Ryan K. Buchanan in a statement on Monday. “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.”Todd Chrisley’s lawyers said in a filing that the government has failed to produce any evidence that he intended to defraud the banks and disputed the loss amount that was calculated. They also pointed to his medical conditions and lack of serious criminal history while asking for leniency.
Friends and family of the couple also provided character witnesses to the court to support a reduced sentence.
The Chrisleys share three children together, including one who is 16, and also have full custody of a 10-year-old daughter of Todd Chrisley’s son from a prior marriage.
In court, a sobbing Julie Chrisley raised concerns about leaving her children behind as she serves time behind bars.
The Epoch Times has contacted lawyers for Todd and Julie Chrisley for comment.
