HomeAmerican EntertainmentPeopleTodd and Julie Chrisley Potentially Facing Another Significant Loss Following Prison Sentencing

Todd and Julie Chrisley Potentially Facing Another Significant Loss Following Prison Sentencing

by Joe Rutland
(Photo by Paul Archuleta/Getty Images)

Todd and Julie Chrisley may be facing another significant loss after they had received their prison sentencing. A report from the New York Post indicates that the couple also was hit with $17.2 million in damages. The Post report also states that sources close to the Chrisleys say they may have to sell their duel Nashville mansion in order to help along with the restitution.

“They’re going to have to give up a lot of things, including their homes, sadly. They won’t be able to afford it,” a source said. “But their main concern now is their children, especially their youngest boy.” Both homes combined are reportedly worth $9 million. This new report comes along days after the former Chrisley Knows Best stars received sentences for bank fraud and tax evasion charges. Todd Chrisley got sentenced to 12 years in prison. His wife Julie will serve seven years. Both individuals are also due to serve 16 months of probation, PopCulture reports.

Todd and Julie Chrisley Face Multiple Charges

Prosecutors also are accusing Julie Chrisley of attempting to rent a California home with fake bank statements and a false credit report. These prosecutors also claim that, months after officially renting the property, the Chrisleys began refusing to pay rent. “Over the course of a decade, the defendants defrauded banks out of tens of millions of dollars while evading payment of their federal income taxes,” U.S. Attorney Ryan K. Buchanan said in a statement. “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.”

Back on June 7, reports indicate that Todd and Julie happened to have been found guilty on federal charges of bank fraud and tax evasion. They also were found guilty on charges of submitting false documents to banks for loans. Peter Tarantino, an accountant that the couple hired, also is found guilty of conspiracy to defraud the United States. Additionally, a guilty verdict for filing false tax returns, per Associated Press. All three are currently free on bond, with their sentencing set for Oct. 6.

After the verdict came out, Bruce Morris, Todd’s attorney, Bruce Morris, told TMZ, “We are disappointed in the verdict. We plan an appeal.” Steve Friedberg, the couple’s lawyer, confirmed this by telling 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.”