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Banks (Finance)

Reality TV Stars Todd and Julie Chrisley Face Bank Fraud, Tax Evasion Charges in Federal Trial

Strategic Insights

— 1 min read

Prosecutors allege that the couple, known for their reality TV show "Chrisley Knows Best," submitted fake documents to banks when applying for loans, hid income to evade taxes, and threatened to evict a property owner in California after refusing to pay rent. The trial is set to start Monday in Atlanta, just days after E! announced a new dating series hosted by Todd Chrisley. The Chrisleys have pleaded not guilty to charges of conspiracy to commit bank fraud, bank fraud, conspiracy to defraud the United States, and tax fraud.

Key Takeaways:

  • The Chrisleys were initially indicted in August 2019 and a new indictment was filed in February of this year, with both individuals facing multiple charges, including conspiracy to commit bank fraud, five counts of bank fraud, and tax evasion.
  • Prosecutors allege that the couple submitted fake documents to banks when applying for loans, with Julie Chrisley also submitting a false credit report and fake bank statements when trying to rent a house in California.
  • The Chrisleys used a film production company they controlled to hide income to keep the IRS from collecting unpaid taxes owed by Todd Chrisley, with Peter Tarantino, an accountant hired by the Chrisleys, charged with one count of conspiracy to defraud the United States and two counts of willfully filing false tax returns.
  • The family's reality TV show "Chrisley Knows Best" was renewed for a 10th season by USA Network, while spinoff "Growing Up Chrisley" was renewed for a fourth season by E!.

Statistics:

  • The Chrisleys allegedly submitted fake documents to banks when applying for loans, involving millions of dollars in loans.
  • The couple failed to file or pay their federal income taxes on time for multiple years.
  • Todd Chrisley received money from his TV show that went into a film production company, but it was not declared as income on federal tax returns.
  • The Chrisleys tried to hide their involvement in the scheme by falsely claiming they didn't know their former employee had submitted false documents.
  • The indictment says the scheme lasted from at least 2007 to 2012.

Sources:

  • AP news wire
  • E!
  • USA Network
  • U.S. District Court indictment (no date provided)
  • Instagram statement by Todd Chrisley (no date provided)

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