Todd and Julie Chrisley, stars of the reality TV show “Chrisley Knows Best,” were found guilty in June 2022 of tax evasion and bank fraud. The Chrisleys were indicted in 2019 on charges that they had submitted fraudulent bank and financial statements to obtain millions in loans. They were also accused of hiding their income from the IRS and failing to file tax returns from 2013-2016.
After a three-week trial in May-June 2022, a federal jury in Atlanta found the Chrisleys guilty on all counts. In September 2022, Todd Chrisley was sentenced to 12 years in prison and Julie Chrisley was sentenced to 7 years. Their accountant, Peter Tarantino, was also convicted and sentenced to 3 years.
Sentencing Details for Todd and Julie Chrisley
On September 19, 2022, Todd and Julie Chrisley were sentenced for their convictions on tax evasion and bank fraud charges. Here are the details on their prison sentences:
- Todd Chrisley – Sentenced to 12 years in federal prison. He was convicted on charges of conspiracy to commit bank fraud, bank fraud, conspiracy to defraud the United States, and tax fraud.
- Julie Chrisley – Sentenced to 7 years in federal prison. She was convicted on charges of conspiracy to commit bank fraud, bank fraud, conspiracy to defraud the United States, tax fraud, and wire fraud.
- Peter Tarantino (Chrisleys’ accountant) – Sentenced to 3 years in prison for filing two false corporate tax returns on behalf of the Chrisleys’ company.
In addition to prison time, Todd and Julie Chrisley were ordered to pay $17.2 million in restitution to the banks they defrauded. They will also have a 16-month supervised release after serving their prison terms.
Summary of Crimes and Convictions
Here is a summary of the major crimes that Todd and Julie Chrisley were convicted of related to their tax evasion and bank fraud scheme:
Tax Evasion
- Failed to file federal income tax returns from 2013-2016 while earning millions from their TV show. This allowed them to hide income from the IRS.
- Submitted a fraudulent loan application that falsely claimed they were earning only $7,000 per month. When they were actually earning over $2 million per year from their TV show.
- Todd Chrisley also submitted a false document that said he had only $4,151 in income in 2013, when he had earned millions.
Bank Fraud
- Submitted false financial statements, audit reports, and bank statements to banks to obtain over $30 million in fraudulent loans.
- Falsely claimed they had $4 million in an account meant to show they could repay loans. That account actually had no money in it.
- Used a film production company they controlled to hide income and make it appear they had enough income to qualify for loans.
Wire Fraud
- After defaulting on $12 million in fraudulent loans, the Chrisleys submitted false documents to make it appear they had enough income to qualify for loan forgiveness.
Obstruction of Justice
- Julie Chrisley also committed obstruction when she submitted a false document in response to a grand jury subpoena.
Table of Convictions and Sentences
| Defendant | Convictions | Sentence |
|---|---|---|
| Todd Chrisley | Tax evasion, bank fraud, wire fraud | 12 years in prison |
| Julie Chrisley | Tax evasion, bank fraud, wire fraud, obstruction of justice | 7 years in prison |
| Peter Tarantino | Filing false tax returns | 3 years in prison |
Quotes on Sentencing from U.S. Attorney and Judge
U.S. Attorney Ryan K. Buchanan said after the sentencing:
“The Chrisleys have built an empire based on the lie that their wealth came from dedication and hard work…But the jury saw through the flashy lifestyle and down to the truth of lies and deception.”
Judge Eleanor Ross said before handing down the sentences:
“The Chrisleys have engaged in an elaborate and willful fraud scheme in which they exploited their confidential relationship with a tax preparer to evade their tax obligations and other financial responsibilities over the course of many years.”
What Happens Next for the Chrisleys?
Now that Todd and Julie Chrisley have been sentenced and their accountant Peter Tarantino has also been sentenced, here is what happens next:
- Reporting to Prison – The Chrisleys and Tarantino will have to report to federal prisons that will be designated by the Bureau of Prisons. They will likely be required to report to prison within 60 days of sentencing.
- Appeals – The Chrisleys’ attorneys have stated they plan to appeal the convictions and seek a new trial. But they would have to file appeals and succeed in getting convictions overturned to avoid prison time. Appeals could take many months or years.
- Restitution – In addition to prison time, Todd and Julie Chrisley have been ordered to pay $17.2 million in restitution payments to the banks they defrauded. These payments may begin while they are still in prison.
- Future Earnings Garnished – A large portion of any future earnings the Chrisleys make, whether through television work, paid interviews, book deals, or other income sources, could be garnished by the government to go towards their restitution debt.
- Television Career – The future is uncertain for the family’s USA Network show “Chrisley Knows Best.” The network has not announced plans for a 10th season in 2023. It’s likely their TV career is over.
5 Key Questions About the Chrisley Sentencing
Here are answers to 5 of the key questions about the prison sentences handed down to Todd and Julie Chrisley:
1. Where will the Chrisleys go to prison?
The location of the prison where Todd and Julie Chrisley will serve their sentence has not yet been determined. That will be decided by the Federal Bureau of Prisons based on space availability, security levels, and other factors. They could request to be close to family but may not get their preferred facility.
2. What will prison life be like for them?
Prison life will likely be a dramatic change from the Chrisleys’ lavish lifestyle portrayed on their reality show. Inmates in low and medium security prisons have strict schedules for meals, sleeping, work duties, exercise time, etc. Privacies like private cells or TVs have to be earned. Todd and Julie will have to adjust to sharing small spaces with other inmates.
3. Will they serve the full sentences?
Todd Chrisley’s 12-year sentence and Julie Chrisley’s 7-year sentence are likely to be the full amount of time they will serve in prison. Federal inmates typically serve at least 85% of their total sentence. Credit for good behavior could subtract up to 15% off their time served. But neither will be eligible for parole.
4. Could they end up at the same prison?
It’s possible but unlikely Todd and Julie Chrisley would be imprisoned in the same facility. Married couples are sometimes allowed to serve together if there is room. But because their sentences differ substantially, they will probably be assigned to separate facilities based on security levels.
5. What happens when they get out?
Once released, Todd and Julie Chrisley would be on supervised release for 16 months and have to regularly report to a probation officer. A likely requirement is that they continue making restitution payments. Job opportunities could be limited with a felony fraud record. And any future earnings could be garnished.
Conclusion
The multi-year prison sentences given to reality stars Todd and Julie Chrisley represent a dramatic downfall. Once portraying a life of wealth and happiness on their TV show, their crimes of tax evasion and bank fraud will now land them behind bars for a significant part of the next decade. Their accountant Peter Tarantino will also serve prison time for his role in filing false tax returns.
The Chrisleys’ case serves as a stark warning that even the rich and famous can face serious prison time if they deliberately defraud the IRS and banks. While they pursue appeals, the immediate future will likely involve reporting to federal prisons to begin serving their sentences. And their lives may never be the same again after doing their time and dealing with the financial restitution they owe.