Todd and Julie Chrisley were accused of lying to secure $30 million in bank loans, then later filing for bankruptcy to avoid paying more than $20 million in debt
Todd and Julie Chrisley have been convicted on all counts of bank and tax fraud after a three-week trial. The Chrisley Knows Best stars could get up to 30 years behind bars.
A federal jury found Todd, 53, and Julie, 49, guilty of conspiracy to commit bank fraud, conspiracy to defraud the United States and tax fraud, per the Atlanta Journal-Constitution. Julie was also convicted of wire fraud. Jurors began deliberations on Friday and announced their verdict on Tuesday. (A sentencing date has yet to be scheduled.)
A rep for the Chrisleys did not immediately respond to PEOPLE’s request for comment, while the Chrisleys’ lawyer Bruce Morris tells PEOPLE the couple is “disappointed in the verdict” and added, “An appeal is planned.”
Their lawyer Steve Friedberg also tells 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.”
According to Insider, the pair’s former lawyer Peter Tarantino was also found guilty of conspiracy to defraud the United States and willfully filing false tax returns.
The reality stars were accused of creating false documents to secure $30 million in bank loans in order to foot the bill for their expensive lifestyles. They then filed for bankruptcy to avoid paying the more than $20 million they owed, Atlanta’s WSB-TV reported.
According to the AJC, prosecutors said the Chrisleys intentionally “swindled” smaller banks to rack up the $30 million bill between 2007 and 2012, two years before their reality show debuted on USA in 2014.
Everything to Know About the $30 Million Fraud Trial Against Todd and Julie Chrisley
The AJC also reports that, prosecutors sought to prove that the couple lied about the millions they brought in from Chrisley Knows Best, along with $500,000 in back taxes that Todd owed for 2009. They were accused of launching a shell company, 7C’s Productions, to put in Julie’s name to prevent the IRS from seizing the half-million owed from 2009.
The federal trial against Todd and Julie began on May 16 in Atlanta, where the couple lived for several years before moving to Nashville.
The proceedings come after the Chrisleys were indicted by a federal grand jury in August 2019 for 12 counts of bank and wire fraud, tax evasion and conspiracy, all of which they denied.
The couple was cleared of their state tax evasion charge in Georgia in October 2019, but continued to face federal charges for allegedly evading federal taxes.
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The ninth season of USA’s Chrisley Knows Best is scheduled to return June 23 after going on hiatus in December. The show has been renewed for a 10th season. In addition, Todd hosts and executive produces a speed-dating match-making series titled Love Limo.