Reality TV Stars Found Guilty Of Tax Evasion And Bank Fraud

Danielle Del Valle/Getty Images

Leena Nasir Entertainment Reporter
Font Size:

Reality TV stars Todd and Julie Chrisley have been found guilty on all charges of bank fraud and tax evasion by a federal jury in Atlanta, Tuesday.

The couple is best known for their time on the reality TV series “Chrisley Knows Best” which debuted in 2014 and parlayed into a spinoff show called “Growing Up Chrisley,” and were facing charges after allegations they deliberately swindled $30 million from local banks between 2007 and 2012, according to the Atlanta Journal-Constitution. The Chrisleys could face up to 30 years in prison. Sentencing is scheduled for October 6.

The three-week trial uncovered allegations that the Chrisleys inflated their net worth in order to obtain loans after intentionally targeting smaller banks with less thorough security practices than the larger, more recognized banking institutions, according to The Atlanta Journal Constitution. The Chrisleys 2012 bankruptcy claim erased $20 million worth of debt, which was also under scrutiny, reported the outlet.

Prosecuting attorney Annalise Peters alleged the Chrisleys concealed millions of dollars worth of earnings from their reality television show and evaded taxes dating as far back as 2009, according to the Journal-Constitution. (RELATED: The Home Of Tito Ortiz Was ‘Ransacked’ During Robbery)

Bruce H. Morris, an attorney representing Todd Chrisley, claimed the Chrisleys were victims of Mark Braddock, who oversaw the dealings of the Chrisley’s company, Chrisley Asset Management, and pointed the finger of blame in his direction, alleging he was responsible for the fraud, according to the Journal-Constitution.

Keri Farley, an FBI Atlanta special agent, released a statement stating “As today’s outcome shows, when you lie, cheat and steal, justice is blind as to your fame, your fortune, and your position,” according to the outlet.

“In 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,” Farley said.

At this time, the Chrisleys have not been remanded in jail, the outlet noted.