The Chrisley family, which includes American billionaire and reality TV star Todd Chrisley, made headlines in the years 2019–2022 due to a tax fraud lawsuit. Both the ex-reality TV star and his wife Julie have been sentenced to jail periods that will begin in 2022.
They received a three-year probation term in addition to their prison time. Born on January 11, 1969, Kyle Richards is most known for her appearances in a number of reality television series.
When she’s not acting, Kyle is busy with her many business ventures and charitable work. She appeared in 19 episodes of Little House on the Prairie over the course of 7 years when she was a young actor with a recurrent part.
What is Todd Chrisley’s Net Worth And Salary?
In 2023, as of September, Todd Chrisley is a $1.5 million reality TV star, businessman, and ex-convict from the United States. The reality show “Chrisley Knows Best” on the USA Network propelled Todd Chrisley to fame on a national scale.
— Page Six (@PageSix) August 1, 2022
Mr. Chrisley and his family live their everyday life on camera. On April 2, 2019, a spin-off titled “Growing Up Chrisley,” which follows Todd and Anna’s kids Chase and Savannah, debuted.
The majority of Todd Chrisley’s wealth comes from his television projects and real estate investments. Below, we’ve covered his several income streams:
Career in Acting
Reality stars on Chrisley’s shows reportedly made anywhere from $30,000 to $10 million per season, depending on how significant their role was, as reported by Insider.
Having starred in the MTV reality series Chrisley Knows Best, Todd Chrisley became a household name. While it is known that he earns a lot of money from the show, the actual sum is being kept secret for the time being.
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It’s safe to assume that Todd Chrisley has a comfortable lifestyle thanks to his $1.5 million in connections. Chrisley Knows Best featured Todd’s 1960 Chevrolet Corvette in an episode. He spent over $250,000 on this incredibly luxurious vehicle.
Multiple sources on the internet state that annually, Todd and his family spent $300,000 on apparel. There have been no public reports of his spending outside of this.
It was reported in 2015 that Todd Chrisley had relocated his family to Nashville, Tennessee, into a mansion valued at $1.6 million. A house outside of Nashville cost him $3.4 million later on. Later on, in the course of their case, the family had each mansion appraised at roughly $4.7 million, for a total of $9 million to make restitution.
Conviction and Arrest: TLDR
Unfortunately, Todd and his wife Julie have become even more notorious in recent years due to their convictions on tax and fraud charges. In 2019, a grand jury indicted Todd, Julie, and their accountant on accusations of wire fraud and tax evasion.
The Chrisleys were accused of utilizing phony bank statements, overstated personal financial statements, and phony audits to swindle banks out of $36 million.
After allegedly using the money to live a luxury lifestyle without paying taxes, the Chrisleys are accused of fleeing the country. Somewhere, about $20 million in debt caused Todd to seek for bankruptcy protection.
According to the DOJ:
“The Chrisleys spent the money on luxury cars, designer clothes, real estate, and travel — and used new fraudulent loans to pay back old ones. After spending all the money, Todd Chrisley filed for bankruptcy and walked away from more than $20 million of the fraudulently obtained loans.”
To be Arrested in August of 2019
A multi-count indictment led to the arrest of Todd and Julie Chrisley in Atlanta on August 14, 2019. Tax evasion, wire fraud, bank fraud, and conspiracy were among the original charges.
The indictment states that from around 2007 to 2012, Todd and Julie utilized Chrisley Asset Management to apply for and receive $36 million in bank loans for the purpose of purchasing and reselling foreclosed homes.
The prosecution said the pair had gotten these bank loans by giving fraudulent information. The couple’s wealth was supposedly greatly exaggerated due to this lie.
The indictment accuses Todd and Julie of the following acts:
They “conspired to submit false materials, such as fabricated bank statements and false personal financial statements, to financial institutions to obtain millions of dollars in loans, much of which they used for their own personal benefit.”
Todd and Julie Chrisley Are Sentenced in Bank Fraud and Tax Evasion Case https://t.co/7svYuGauFS
— People (@people) November 21, 2022
In an online message, Todd and Julie blamed a former “trusted employee” who they say stole from the family and committed crimes in their absence. They were required to appear in court and to post unsecured appearance bonds in the amount of $100,000.
In addition, they were told only to visit Atlanta and California for TV show tapings. A new indictment was submitted in February of 2022.
The indictment further accused the pair of using a film production firm to hide $2 million in unpaid taxes owed to the IRS, in addition to the previously cited accusations of presenting bogus paperwork when requesting loans.
The couple allegedly hid $2 million in TV program earnings in a company they ran called 7C’s Productions to avoid paying $2 million in taxes.
One count of conspiracy to conduct bank fraud, one count of conspiracy to defraud the United States, one count of tax fraud, and FIVE counts of bank fraud were added to the original indictment against Todd and Julie. They entered a not-guilty plea.
In May of 2022, their trial for federal crimes got underway. Todd and Julie were found guilty in June 2022, and they received 12- and 7-year prison terms, respectively, in November 2022.
At one point, Todd Chrisley’s real estate empire cost him $45 million, and he was forced to declare bankruptcy. A bankruptcy trustee testified in court that Todd had hidden millions of dollars in assets under his wife’s name. The attorney for Chrisley strongly refuted these claims.
In his initial 2012 bankruptcy filing, Todd Chrisley listed $4.2 million in assets against $50 million in debt. Todd reported having only $100 in cash and $55 in a bank account in the same form.
In 2023, How Much Money Will Todd Chrisley Have Made?
A: In 2023, Todd Chrisley is expected to have a net worth of $1.5 million.
Todd Chrisley Was Found Guilty Of Fraud.
A: Yes, a court found Todd Chrisley guilty of several charges of financial fraud in July of 2022.
What Has Happened To Todd Chrisley’s Wealth As The Years Have Passed?
A: In 2012, Todd Chrisley declared bankruptcy; by 2019, his net worth was $5 million, and by 2023, it had dropped to $1.5 million.
What Will Happen To His Wealth As A Result Of The Current Legal Battles?
A: His recent convictions and legal expenditures may have an effect on his wealth. However, the precise amount is unknown at this time.