The net worth of Todd Chrisley is in question as he and wife Julie Chrisley face bank fraud and tax evasion conviction.
On Tuesday, the reality TV couple was convicted of conspiracy to commit bank fraud, conspiracy to defraud the United States and tax fraud. Julie was also convicted of wire fraud. They are facing up to 30 years in prison. But the couple’s attorney says, “An appeal is planned.”
“Both Chrisley’s are devastated and disappointed with the verdict and will be pursuing an appeal,” the pair’s lawyer Steve Friedberg tells PEOPLE.
“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’ for vindication. They have their priorities in order and are currently concentrating on the welfare of their children and Todd’s mother, Elizabeth Faye Chrisley.”
Prior to Chrisley Knows Best debuting, prosecutors claim the couple intentionally swindled” smaller banks to rack up the $30 million. This occurred during 2007 to 2012. The show aired in 2014. Additionally, the couple allegedly launched a shell company, 7C’sr Productions, to put in Julie’s name to prevent the IRS from seizing the half-million owed from 2009. Not to mention, they owe $500,000 in back taxes. But also, prosecutors allege the couple lied about income from the show.
If the conviction isn’t overturned Todd, Julie, and their accountant, Peter Tarantino face 30 years in prison.
So, can the family truly overturn the conviction based on their true net worth?
Net Worth of Todd Chrisley
Todd Chrisley was estimated to have a net worth around $50 million. But most recent updates determine 5 million.
Here’s why.
One reason may be due to the real estate market crash in 2008. Secondly, he lost a contract with Fannie Mae in 2012, ended his company Asset Management LLC founded in 2004.
The Chrisley’s attorney claims, a bad investment caused the company to default on a 30-million-dollar loan, forcing them to file for Chapter 7 bankruptcy in 2013.
As of June 2022, the net worth of Todd Chrisley estimates about 5 million dollars. Most of the income is due to the show.
More than enough to pay back taxes of $500,000. Not to mention, USA Network picked up season 10, also set to air June 23rd, 2022.
