That’s (probably) all she wrote for the Chrisley family’s expansive pair of mansions in Nashville, Tennessee.
Of course, Todd Chrisley and his wife Julie Chrisley were sentenced earlier this month to 12 years and seven years, respectively, in federal prison on bank fraud and tax evasion charges.
And while those prison sentences were shocking enough for the Chrisley Knows Best stars, the fallout has continued and will impact their lives in many more ways. Now, according to an insider, it is likely the family will lose both of their massive Nashville-based mansions.
Related: Todd Says He Was A ‘Slave’ To Making Money Before Tax Evasion Scandal!!
Per the New York Post, Judge Eleanor Ross of the US District Court in Atlanta has ordered the 54-year-old reality TV star and his 49-year-old wife to pay restitution following their convictions on bank fraud and tax evasion charges. In total, that restitution equals $17.2 million — a massive obligation!!
To cover the costs of those court-ordered fees and payments, an insider told the outlet it is “likely” the couple will have to give up their two Nashville mansions. In total, the two properties are worth about $9 million. One property is a four-bedroom home which they first purchased in 2016 for $1.6 million. That 5,200-square foot property is now estimated to be worth $2.88 million today, according to Zillow.
The couple’s second Nashville mansion is a 13,200-square foot home they purchased in 2019 in the Brentwood area for $3.37 million. It has six bedrooms and nine bathrooms, and is today estimated to be worth $5.97 million, per the real estate site. As the outlet notes, the family actually tried to flip that home just a few months after they first purchased it, but they never received any offers. Eventually, they took it off the market in May 2020.
The insider explained the situation to the Post, saying (below):
“They’re going to have to give up a lot of things, including their homes, sadly. They won’t be able to afford it. But their main concern now is their children, especially their youngest boy.”
Of course, that youngest boy is 16-year-old son Grayson Chrisley. He was recently hospitalized after a serious car accident on a highway in Tennessee. The couple also shares a 26-year-old son, Chase, and a 25-year-old daughter, Savannah.
Related: Kyle Chrisley Thumps The Bible, Warns To ‘Not Judge’ After Prison Sentencing
Now, the couple will have to serve at least 85 percent of their sentences because their convictions were in federal court. A former federal prosecutor spoke with People on Wednesday about the severe sentencing. Neama Rahmani explained how the prison terms likely came about because the Chrisleys gave little indication that they were accepting any responsibility:
“They didn’t accept any responsibility, even after they were convicted. … And that’s the minimum they’re going to have to serve if they’re model inmates. Unlike states where inmates can sometimes serve less than even half of their sentence, under federal statutes, you only get a slight reduction for good behavior.”
Yikes. Tough times ahead for the Chrisleys…
Thoughts, Perezcious readers?
[Image via ET/YouTube]
Originally published at perezhilton.com