It has been revealed that Todd Chrisley was $50 million in debt before he was sentenced to 12 years in prison.
This comes before he and his wife, Julie, were found guilty of multiple charges.
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On their podcast Chrisley Confessions the couple revealed how their life became a “whirlwind.”
In May, the Atlanta federal jury found them guilty of bank fraud and tax evasion.
This comes after the couple was accused of creating false documents to secure $30 million in bank loans and then filed for bankruptcy so that they didn’t have to pay back the $20 million they owed, as per People.
Todd, fifty-three, and Julie, forty-nine, have been the stars behind Chrisley Knows Best since March 2014. The reality television couple share 3 children, Chase, twenty-six, Savannah, twenty-four, and Grayson, sixteen. Todd also shares 2 children with his first wife Teresa Terry. His other two children are Lindsie, thirty-two, and Kyle, thirty.
The television show features Todd, Julie, and their children, who seem to live perfect southern lives as their parents make their money in real estate.
However, even though their lifestyle seems to be quite lavish, behind closed doors, there certainly are some cracks.
And the show wasn’t lying… Because it was announced that the couple faced thirty years in prison after the Jury found them guilty on all counts of bank and tax fraud.
Todd and Julie were found guilty of conspiracy to commit bank fraud, tax fraud, and conspiracy to defraud the United States. Julie was also convicted of wire fraud.
Their lawyer, Bill Morris, said at the time that an “appeal” was underway.
Their lawyer gave a statement to People: “Both Chrisleys are devastated and disappointed with the verdict and will be pursuing an appeal. Julie and Todd are so grateful for the love and support shown by their family, friends, and fans. They both remain strong in their faith and will continue the ‘fight’ until they are vindicated. They have their priorities in order and are currently concentrating on the welfare of their children and Todd’s mother, Elizabeth Faye Chrisley.”
The reality stars reportedly obtained their $30 million just 2 years before their show aired in 2014.
In 2019, the couple had been accused of State tax evasion but were cleared in a Georgia hearing. However, they were not cleared for federal tax evasion, and an investigation into the charges was still ongoing.
Many people had different opinions on the matter…
One person took to Twitter to say: “Todd and Julie Chrisley were found guilty on federal charges. There was only so much evidence that Todd Chrisley could hide in the closet.”
Another wrote: “So Julie and Todd Chrisley gonna be felons too. Look, even though it makes for great tv, if you haven’t paid your taxes or hiding your money don’t go on reality tv! Period!
“The background checks you do before going on tv will come back and bite you in the a** eventually.”
But, some people thought differently…
“Please be encouraged. There is a blessing coming your way. People always try to kick people when they think you are down. But Todd Chrisley you have encouraged a lot of people. Keep your head up and I am praying for you and Julie,” one user wrote, with Todd Chrisley responding “you are very kind, thx so much.”
The couple then broke their silence on being convicted of tax fraud…
In a shocking turn of events, on the June 16 episode of their Chrisley Confessions podcast, the couple said: “We did want to come on today and let everyone know that it’s a very sad, heartbreaking time for our family right now.”
They even said they have faith and “trust God will do what he does best.”
Opening up the famous duo said that: “God’s a miracle worker” and “that’s what we’re holding out for” — even adding they still hold steadfast to their faith.
But said they couldn’t share certain information with fans because of ongoing legal reasons…
“I know all of you guys are wanting to know every detail that is going on in our lives and I have to ask that you respect that we’re not allowed to talk about it at present time,” Todd said.
Since then, fans have been pouring in their support, as Todd revealed the couple was getting “tens of thousands of messages every day” since the June 9 verdict…
According to E! News, people have been “sending mail and gifts” including delivering food to their home.
It doesn’t stop there, as the couple expressed that the love from fans is helping them get through the storm…
“It’s the love that is spread so far throughout this country for our family is what’s truly helping us get up each day,” the couple said. “It’s a tough time right now.”
Todd said they were “grateful”…
“We try to address as much as we can each week that we’re allowed to address,” he said, as per TMZ.
So, with everything that’s going on…
It looks like they’re trying to stay positive.
And in the June 22 episode of his podcast Chrisley Confessions…
Chrisley told his fans: “I want you all to know that the messages that we’re receiving, the mail that we’re receiving, the gifts that people are leaving at our doors, you know the flower arrangements, I mean all this stuff is just overwhelming and very much appreciated.”
But, he then said that “we don’t need anything,” before telling fans: “the best gift you could give us is prayer.”
“We’re going to continue to hold our head up and move forward and that’s kind of where we are with things right now,” the reality television star said.
Sadly, it seems the prayers and well wishes haven’t protected them from the inevitable…
Consequences of their own actions.
As the pair have now been sentenced to prison.
“If he is guilty then he should go, but as someone who has watched the show since the beginning, I still feel sad. Especially for the children, and particularly the ones who are still minors who will most be affected by this. It is sad to see this family fall apart,” one fan wrote of the news.
“Wow, was hoping he get less, I feel for his kids,” another said.
While a third was a little less compassionate: “He’s been scamming for years……he just getting caught……too greedy…..this is what happens when you get too comfortable with it. Sad for the family though…they are used to such a lavish lifestyle…..”
Their fate was decided on Monday in Atlanta…
Judge Eleanor Ross also gave the pair sixteen months probation on top of their sentences.
On Monday, federal prosecutors gave their view that Todd should get twenty-two years behind bars, and Julie twelve…
But their lawyers argued for a maximum of 9 years and just probation, respectfully.
A compromise was met, and Judge Ross then handed out a twelve-year sentence for Todd, while Julie was given 7.
Sadly, as a result, their hit TV shows have been canceled.
“PLEASE I loved watching Chrisley Knows Best but I’d LOVEEE a Chrisley Knows Best: In The Prison Cell (Uncut) version,” one fan wrote.
While another commented: “America…. where financial crimes receive larger sentences than p*dophiles do.”
Chrisley Knows Best, which gained a large following and ran for a whopping 9 seasons, has been axed…
As well as the spin-off show, Growing Up Chrisley which centered around their kids.
A new dating series titled: Love Limo, which was meant to be hosted by Todd has been canceled too.
Chase and Savannah’s spin-off show where they went “on a road trip from Nashville to Los Angeles to prove their independence,” has now also come to an end after 3 seasons.
So it seems the children are also paying for their crimes.
Since their prison sentencing was handed to them…
Julie’s lawyers have made a special request, which she hopes will ease her potential time behind bars.
The lawyers have made the request to maintain her family’s close bond.
According to ABC News, they have asked for a sentence of probation, restitution, and community service, stating that Julie had a minimal role in the controversy and has no prior convictions.
But before they were sent to court and were arrested for fraud…
It has been revealed that Todd was in huge debt.
Though the couple lived in a ravishing mansion in Atlanta and spent thousands of dollars on clothes…
Behind closed doors, the story was different.
Over the years, Todd suffered silently with his debt problems.
And rather taking the honest route…
He got greedy.
In 2012, Todd filed for bankruptcy. However, documents obtained by PEOPLE showed he listed $4.2 million in assets while his debts totaled a staggering $49.4 million.
At the time, Todd’s attorney told the outlet: “He guaranteed a real estate development loan and it failed.
“He was on the hook for $30 million. If he hadn’t had that happen, he would have been fine, financially.”
As well as business bills, he owed $12 million mortgage, $600,000 to the IRS, and $4.4 million to his wife, which all piled up.
With so much debt, the couple sent false bank statements and personal financial statements to get their hands on the cash they needed.
Once they ended up getting the money…
They reportedly spent it on luxury cars, clothes and travel and even use fraudulent loans to pay back the old ones.
What do you think?