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Television Personalities Sentenced to Years in Federal Prison for Fraud and Tax Evasion
In a shocking turn of events, Todd and Julie Chrisley, a popular television host and his wife, have been sentenced to 12 and 7 years in federal prison, respectively, for their roles in a bank and tax fraud scheme. The couple was found guilty of defrauding banks out of tens of millions of dollars while evading payment of their federal income taxes.
According to U.S. Attorney Ryan K. Buchanan, the Chrisleys conspired to defraud community banks in the Atlanta area to obtain more than $36 million in personal loans. They submitted false bank statements, audit reports, and personal financial statements to obtain the loans, which they then used to fund their lavish lifestyle, including luxury cars, designer clothes, real estate, and travel.
The Chrisleys’ scheme was uncovered after Todd Chrisley filed for bankruptcy and walked away from more than $20 million in fraudulently obtained loans. The investigation revealed that the couple had also conspired to defraud the Internal Revenue Service, operating a loan-out company to conceal their income from the IRS.
In addition to their prison sentences, the Chrisleys were ordered to pay restitution and fines. Todd Chrisley was sentenced to 12 years in prison and ordered to pay $21 million in restitution, while Julie Chrisley was sentenced to 7 years in prison and ordered to pay $16.7 million in restitution.
The Chrisleys’ accountant, Peter Tarantino, was also convicted of multiple tax-related violations and sentenced to 36 months in prison.
The case serves as a warning to others who may be tempted to exploit the community banking system for personal gain. U.S. Attorney Buchanan stated, ‘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, 54, of Brentwood, Tennessee, was sentenced on January 27, 2023, to 12 years in prison to be followed by 3 years of supervised release. Julie Chrisley, 49, of Nashville, Tennessee, was sentenced on the same day to 7 years in prison to be followed by 3 years of supervised release.
The Chrisleys’ case is a reminder that no one is above the law, regardless of their fame or fortune. As Special Agent in Charge of the FBI Atlanta, Keri Farley stated, ‘When you lie, cheat, and steal, justice is blind to your fame, fortune, and position.’
Todd Chrisley, Bank and Tax Fraud, Georgia 2023
Key Facts
- State: Georgia
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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