Todd Chrisley is widely known as an American businessman and reality TV personality, primarily recognized for the show Chrisley Knows Best. Despite his public image, Todd’s financial standing has taken a significant hit, currently reflecting a net worth of negative $18 million. His financial downfall is closely linked to a conviction involving tax evasion and fraud, which not only tainted his reputation but also resulted in a court-ordered restitution payment of $17 million to banks he defrauded.
Rise to Fame: Reality TV Success
Todd Chrisley gained celebrity status through the USA Network reality series Chrisley Knows Best, which chronicles the everyday life of Todd and his family. The show attracted viewers with its focus on their extravagant lifestyle and Todd’s strict parenting style. Building on this success, a spin-off called Growing Up Chrisley debuted in April 2019, spotlighting Todd’s children Chase and Savannah as they navigate life away from their family’s spotlight.
Criminal Charges and Conviction: A Brief Overview
Todd Chrisley’s public image took a sharp downturn when he and his wife Julie, were indicted in 2019 on multiple charges, including wire fraud and tax evasion. Prosecutors accused the couple of defrauding financial institutions out of $36 million by submitting false bank statements and inflated personal financial documents to secure loans. This scheme allowed them to fund a lavish lifestyle while evading millions in taxes.
In an attempt to evade debt, Todd even filed for bankruptcy, walking away from over $20 million in fraudulently obtained loans. After a lengthy six-week trial that began in May 2022, both Todd and Julie were found guilty in June 2022. In November 2022, Todd was sentenced to 12 years in prison, with Julie receiving a seven-year sentence. Both will serve three years of probation afterward.
Prosecutors harshly criticized the couple, describing them as “career swindlers” who fabricated a public image of wealth through deceit and fraud, repeatedly cheating banks, vendors, and the IRS.
Chrisley Asset Management and Legal Issues
Central to Todd’s financial empire was Chrisley Asset Management, a company that was reportedly struggling financially for years, even as the Chrisleys maintained a highly extravagant lifestyle. This company became a focal point during their legal battles, as it was allegedly used to support the fraudulent loan applications that led to their indictment.
The 2019 Arrest: Fraud Allegations Detailed
On August 14, 2019, Todd and Julie Chrisley were arrested in Atlanta after being indicted on charges including tax evasion, wire fraud, bank fraud, and conspiracy. Prosecutors alleged that between 2007 and 2012, the couple used Chrisley Asset Management to seek $36 million in bank loans, providing fabricated documents to inflate their net worth and secure the funds.
One striking example from the indictment revealed that in 2007, they submitted a fake bank statement showing nearly $777,000 in an account they didn’t even have. Todd reportedly instructed an associate to increase the balance to over $4 million, even though the actual account had never contained more than $17,000.
Tax Evasion and Lifestyle Contradictions
Further scrutiny uncovered that while the Chrisleys publicly portrayed financial hardship to the IRS, they were simultaneously splurging on luxury items, including expensive electronics shown during their reality TV episodes. This contradiction was a red flag for authorities investigating their tax filings.
Todd and Julie initially blamed a former trusted employee for the fraudulent activities, claiming they were unaware of the crimes. Nevertheless, the couple faced strict legal restrictions, including travel limitations and court appearance bonds.
In early 2022, the couple faced an updated indictment accusing them of hiding $2 million in unpaid taxes through a production company tied to their TV earnings. Despite pleading not guilty, the federal trial resulted in convictions and substantial prison sentences.
Bankruptcy and Financial Disputes
Todd’s financial struggles extended into bankruptcy proceedings. In 2012, he filed for personal bankruptcy, listing assets worth just $4.2 million against debts totaling $50 million. His corporate entity, Chrisley Asset Management, also filed for bankruptcy in 2013. During these proceedings, allegations surfaced that Todd hid significant assets in his wife’s name, a claim his attorney denied.
The couple’s Atlanta mansion carried a mortgage of $12 million, and Todd faced nearly $600,000 in unpaid IRS penalties. Beyond the bankruptcy cases, Todd was ordered in April 2024 to pay over $750,000 in damages related to a social media attack on a woman.
Early Years and Personal Background
Born on April 6, 1969, in Georgia, Todd Chrisley was raised in Westminster, South Carolina. His family life, particularly his relationship with his children and his second wife Julie, who was once a beauty queen, has been a staple of his public persona. Todd and Julie have three children together, while Todd has two children from a previous marriage.
Todd is known to be a germophobe, avoiding dirt and animals, a quirky detail that contrasts with his high-profile lifestyle.
Television Fame and Public Persona
Chrisley Knows Best premiered in 2014 and quickly captured audiences fascinated by the family’s opulent lifestyle and Todd’s authoritarian approach to parenting. From enforcing strict internet controls to disabling his son Chase’s car after sneaking out, Todd’s methods often made headlines.
The show has aired over 200 episodes across nine seasons, with new episodes filmed before the trial continuing to air in 2023. Its global reach includes broadcasts in Canada, the UK, Australia, and Asia. The show’s success also spawned Growing Up Chrisley, focusing on the younger Chrisley siblings adjusting to life in Los Angeles.
Despite showcasing designer wardrobes and luxury cars on TV, Todd’s bankruptcy filings oddly valued his clothes at a mere $650, highlighting the gap between his on-screen image and actual finances.
In 2016, Todd briefly ventured into music, releasing the country single “Infinite Love” with Sara Evans, which charted modestly. He also hosted a short-lived talk show in 2017 called According to Chrisley, where he discussed topics like marriage and parenting alongside family members and celebrity guests.
Personal Relationships and Family Life
Todd’s first marriage to Teresa Terry ended in 1996, producing two children, Lindsie and Kyle. That same year, Todd married Julie Hughes, with whom he shares three children. Julie, daughter of a Baptist minister, has also been Todd’s business partner and closest confidant.
Real Estate Investments and Moves
In 2015, the Chrisleys relocated to Nashville, Tennessee, seeking the tax advantages of the state. They purchased a home for $1.6 million and later spent $3.4 million on another property near Nashville. Amid their legal troubles in 2019, they listed the newer home for $4.7 million, likely aiming to cover restitution costs. These properties, valued collectively at around $9 million, remain significant assets amid their financial challenges.
