Todd and Julie Chrisley are famously known as the stars of the USA Network’s hit show “Chrisley Knows Best.” This show features the couple as they tour their lavish 30,000-square-foot home in a wealthy suburb on Atlanta’s northside.
Todd has said they, as a couple, came from small beginnings and made their money with real estate.
They have been known to show off their fashion styles and can easily spend $300,000 in a year on clothing alone.
The Tax Fraud
Though they say most of their wealth comes from real estate, prosecutors say they acquired most of their money from fraudulent activity. Leading up to their reality TV show, prosecutors say the Chrisleys have conspired to fraudulently get over $30 million in loans from community banks.
Peter Tarantino, their accountant, was also found guilty of conspiring against the IRS on top of other tax crimes.
Prosecutors have stated the couple spent five years defrauding financial institutions, beginning around 2007. The couple falsified documents, such as fake bank statements with large account balances, info on financial statements, and other documents outlining available funds.
Court documents also state that Todd presented falsified paperwork showing that they had $4 million in the bank where they did not even have an existing account. The Chrisleys used this method with several banks to get loans for their personal benefit.
The money was used to buy real estate, designer clothing, vacations, and luxury cars. They also used the loaned money to pay existing debts. In 2012, they filed for bankruptcy but kept $20 million for themselves. Julie kept these funds using false documents during bankruptcy. In 2014, she used these fake statements to rent an LA home.
Reactions to the Verdict
Atlanta FBI agent Keri Farley stated, “Today’s outcome shows justice is blind to fortune and fame if you lie, cheat, or steal.”
Bruce Morris, an attorney of Todd, said the couple was obviously upset with the verdict, and they plan to file an appeal. Tarantino’s attorneys have not responded to the request for comment.
A Closer Look at Their Show
Their reality TV series was long-running, and the couple and their five children were considered very entertaining. Many fans loved watching their lavish lifestyle, unique parenting style, and strong work ethic.
The show is currently the most-watched original series on USA Network. It is also popular among 18- to 19-year-olds. It is airing its ninth season, with the tenth season having already been picked up.
The couple also has two spin-offs coming out, one on E! and the other on Peacock.
The Chrisleys are best known for their show “Chrisley Knows Best.” But their recent conviction shows that even famous people aren’t immune to tax fraud.
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