They Faked a Fortune and Got a Trump Pardon–Now the Chrisleys Are Reportedly Broke and Owe Millions

President Donald Trump’s latest round of pardons has raised eyebrows across the political spectrum, with him extending clemency to an eclectic mix of convicted felons.

LAS VEGAS, NV – APRIL 02: Todd Chrisley and Julie Chrisley arrive at the 52nd Academy of Country Music Awards held at T-Mobile Arena on April 2, 2017 in Las Vegas, Nevada. (Photo by Michael Tran/FilmMagic)

In The Red

Among the most notable recent recipients is Larry Hoover, the former leader of Chicago’s notorious Gangster Disciples. This criminal organization once controlled nearly 30,000 members in the Windy City alone and generated approximately $100 million annually through nationwide drug trafficking operations. Others on the list are his political allies, who, according to The New York Times, have paid hefty fees to lobbyists to avoid jail time.

The May 28 pardon list also included reality television personalities Todd and Julie Chrisley, the disgraced stars of “Chrisley Knows Best” who were convicted on federal charges related to financial crimes. The couple, who built their brand around displays of wealth and family values, had been serving prison sentences for tax evasion and fraud before Trump’s intervention.

Trump pardoned the couple from federal prison just three years into their sentences. The pair once known for flaunting a life of luxury on their USA Network reality show walked free from separate prisons in Florida and Kentucky following Trump’s controversial move.

The Chrisleys were convicted in 2022 for orchestrating a sophisticated scheme to defraud banks out of more than $30 million and for dodging hundreds of thousands of dollars in federal taxes, according to KGNS.

Todd Chrisley received a 12-year sentence, while Julie Chrisley was sentenced to seven years.

The couple was found guilty of eight counts of financial fraud and two counts of tax evasion. Julie Chrisley faced additional convictions for wire fraud and obstruction of justice.

According to the Justice Department, the Chrisleys worked with a former business partner to defraud Atlanta-area banks of more than $36 million in personal loans. They allegedly submitted false bank statements, audit reports, and financial documents to secure the funding, using the money for luxury cars, real estate, and clothing while covering old loans with new fraudulent ones.

After exhausting the fraudulent funds, according to the Justice Department, Todd Chrisley filed for bankruptcy.

Later, prosecutors said the couple and their accountant, Peter Tarantino, defrauded the IRS, hiding income through corporate accounts to avoid paying approximately $500,000 in back taxes.

Prosecutors said the couple used fake documents, bogus bank statements, and inflated asset values to convince lenders to fund their lavish lifestyle, which included a 30,000-square-foot mansion, luxury cars, and annual clothing bills topping $300,000.

While they are no longer behind bars, the damage is far from over.

Todd Chrisley’s net worth remains deeply negative at -$18 million, according to Celebrity Net Worth. The couple still owes $17 million in restitution, and the pardon does not wipe away those financial obligations.

Their legal troubles also stem largely from their former business, Chrisley Asset Management, which claimed to invest in distressed real estate assets.

Prosecutors revealed that from 2007 to 2012, the Chrisleys fabricated multiple financial statements to secure fraudulent loans. In one example cited in court, they submitted a fake Merrill Lynch account statement showing $776,509 in assets.

The Chrisleys’ case serves as a glaring example of how television fame, especially when backed by major networks, can distort reality. They turned fabricated wealth into a TV empire, convincing millions that they’d built something out of hard work and Southern charm. In truth, they were hiding behind a web of lies and fraudulent paperwork.

Even with a presidential pardon, the shadow of their crimes — and the debt that comes with it — continues to follow them. Whether they can now build a legitimate future, without the backing of Hollywood illusions or political favors, remains to be seen.

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One thought on “They Faked a Fortune and Got a Trump Pardon–Now the Chrisleys Are Reportedly Broke and Owe Millions

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