Todd Chrisley brags about spending $300K a year on clothes in 2014 clip 2 years after declaring bankruptcy
ATLANTA, GEORGIA: Two years after claiming in bankruptcy court that he had nothing in his bank accounts and only $100 in cash, Todd Chrisley bragged about spending $300,000 annually on clothing for his family in a TV promo for his reality program. The court sentenced Todd and his wife Julie to a term of twelve and seven years in prison respectively on charges of bank fraud on November 22, 2022.
After Todd and his wife Julie were found guilty of fraud and sentenced to prison, the court documents that were submitted to a Georgia bankruptcy court in 2012 took on new significance. The couple exhibited a luxury lifestyle replete with hard-earned wealth which served as the basis for the prosecution's case. Additionally, the prosecution presented testimony from a man claiming to be Todd's gay ex-boyfriend. The fraudster explained to TV viewers and supporters how hard work and family might help them achieve their level of wealth. Prosecutors contended that it was a deception and that the two stole $30 million in loans from banks before failing to pay their taxes.
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According to documents obtained by Daily Mail, Todd complained to the court that at the time of his Chapter 7 filing in Georgia in 2012, he had only $100 in cash and $650 worth of clothing. The most expensive item he had on hand, according to him, was his $1,300 platinum wedding band. He said there was nothing in his checking account. Todd reported having $4 million in assets, most of which were real estate for which he still had mortgage debt. However, he owed $49.5 million in total. The judge wiped $20 million in debt after agreeing to his request for relief.
Two years later though, the Chrisley family made no mention of their most recent monetary difficulties. Instead, they portrayed a wealthy and aspirational family that had gained "millions" in real estate and now wished to enter the fashion and leisure industries by opening a department store in Georgia. “In a year we probably spend $300,000 a year, probably more, on clothing. I approve every piece of clothing that our children wear,” Todd boasted in a newly resurfaced promo for the TV show. At the time, the family lived in a 30,000-square-foot estate in Georgia. Todd bragged that they lived in a gated community and were close to famous people like Usher.
After being charged in 2019, they later relocated to Nashville and bought a $3 million home there before downsizing to a smaller home as they kept making episodes of their popular show.
Todd received a 12-year prison term for bank fraud and tax evasion on November 22. On similar accusations, his wife Julie received a seven-year term from US District Judge Eleanor Ross.