Todd and Julie Chrisley are a couple originally from Atlanta who gained wide notoriety through the reality television show, "Chrisley Knows Best", involving the couple and their five children. Investing in real estate provided Todd with the wealth, which was the backdrop of the show. Their television show ran from 2014 through 2023, when the show—and their success story—dissolved.
Following an Internal Revenue Service (IRS) Criminal Investigation and work by the FBI, the original source of the Chrisley wealth became public, leading to the cancellation of their show and serious legal trouble. The couple took out more than $36 million in loans while living in Atlanta. To secure the loans, the couple and their accountant created and submitted fake audit reports, bank statements and financial statements. The loans were spent on a luxury lifestyle, real estate, travel and cars.
The couple continued to finance their lifestyle by taking out new loans to pay off older loans. Eventually, the loans ran out, and the Chrisleys dropped their $20 million debt into bankruptcy and moved on. The couple then landed their reality TV show and earned millions. At the same time, the couple created a new tax evasion scam to deal with $500,000 in back taxes owed to the IRS by Todd.
The Chrisleys created a company with accounts in Julie's name. Eventually, the IRS asked for information from her accounts, and the couple then moved ownership of the accounts to a relative. As an aside, making evasive maneuvers after the IRS has approached you about a tax controversy is never a good idea.
In the end, a jury convicted the couple of tax evasion, bank fraud and other tax crimes. In 2022, Todd was sentenced to 12 years in prison, and Julie received a 7-year sentence. Their accountant was convicted and given a 3-year prison term. An IRS special agent said, “As this sentencing proves, when you lie, cheat, and steal, justice is blind to your fame, fortune and position.”
Fast forward to May of this year, President Trump pardoned Todd and Julie Chrisley. Todd had served two years plus, while Julie served one year plus of her sentence. Their daughter, Savannah Chrisley, promoted their cause and spoke at the Republican National Convention in July 2024.
Fame, fortune, and position gave the Chrisleys a get-out-of-jail-free card, and they can now look forward to time with family and friends and undoubtedly new projects. It is possible, for certain parties, that the IRS may defer throwing the book at defendants who can provide a persuasive pitch to people in power. If you are concerned about allegations of tax crime—speak with an experienced criminal tax attorney for all your options.
And the accountant? He was not included in the pardon. He was convicted and served three years in prison. He was released in January 2025.
If you are swapping out loans or moving money through shell companies, your best defense is knowledge and a highly skilled legal tax defense. Involving experienced legal counsel earlier can provide an advantage, depending upon your circumstances. Call us at 440-250-9709 or reach out to set up a consultation. We serve domestic and international clients from offices in Cleveland and Chicago.
Not sure what to expect if you are under IRS scrutiny? Download our free eBook, Will I Be Charged with Criminal Tax Fraud?, for insights into warning signs, legal defenses, and what to do if the IRS comes knocking.