Chrisley Knows Best star Todd Chrisley disputed claims that he and wife Julie were responsible for carrying out financial crimes pending the release of a federal indictment. The couple remained defiant in the face of allegations of tax evasion and bank fraud, with Todd appearing untroubled by the charges in a recent social media post.
Despite the glamorous lifestyle depicted on his hit USA Network reality show, Todd has faced doubt concerning his reported $46 Million net worth. The real estate mogul is said to have filed a substantial bankruptcy case for as much as $45 million in debt in 2012. Todd also claims to have made 95 percent of his fortune in real estate, while remaining ambiguous about his exact investments. According to Investopedia, his former investment firm Chrisley Asset Management (CAM) bought up foreclosed homes and turned them around for a profit. However, following the 2008 housing market crisis, the manner in which the company accomplished this was uncertain. CAM filed for corporate bankruptcy in 2013, and Todd has reportedly not yet made all the required payments.
On August 12 the television personality posted an Instagram message (via: ET) that discussed the looming charges and established his version of events. Todd claimed that a former employee was responsible for fabricating the various crimes and bringing them to the attention of investigators at the U.S. Attorney's office, saying, "It all started back in 2012, when we discovered that a trusted employee of ours had been stealing from us big time. I won't go into details, but it involved all kinds of really bad stuff like creating phony documents forging our signatures, and threatening other employees with violence if they said anything." He claimed that the man even bugged his home, leading Todd and his wife to take him to court. Out of revenge, the employee allegedly presented the U.S. Attorney’s office with false documents that implicated the couple in a number of financial crimes.Todd said the matter was resolved after he explained the situation to investigators. However, the employee tried again, and "persuaded a different set of investigators at the U.S. Attorney's office not only to reopen the case but also to grant him immunity from prosecution for his own crimes and bring charges against us," he claimed. The reality star denied any wrongdoing and maintained his innocence, saying that his family had nothing to hide or be ashamed of. He professes to currently possess plenty of hard evidence and corroborating witnesses to disprove the accusations.
In light of the allegations, Todd showed appreciation towards his friends and fans for their support and vowed to “work every day to earn your respect, loyalty, and admiration.” Daughter Savannah wrote a reassuring message in support of the statement, calling her “loving, kind-hearted, and honest father” the “glue” holding the family together. She then invoked the family’s devotion and faith, indicating that the situation would ultimately resolve itself as a part of God’s greater plan.
Now that the official indictment details have been revealed, it remains to be seen how much weight Todd's statement actually holds. His financial history adds an interesting wrinkle to the situation but yields no concrete evidence of fraud or mismanagement. For now, it's unclear whether or not the charges will affect the status of Chrisley Knows Best.
Source: E! News