Todd and Julie Chrisley Facing Another Devastating Loss Amid Prison Sentencing

Following the news of their prison sentencing, Todd and Julie Chrisley are potentially facing another devastating loss. According to the NY Post, in addition to jail time, the couple we also hit with $17.2 million in damages. The outlet reports that sources close to the Chrisleys have said they may have to sell their duel Nashville mansions in order to help cover the restitution.

"They're going to have to give up a lot of things, including their homes, sadly. They won't be able to afford it," the source said. "But their main concern now is their children, especially their youngest boy." The two homes together are reportedly worth $9 million. The new report comes days after the former Chrisley Knows Best stars were sentenced for bank fraud and tax evasion charges. Todd Chrisley was sentenced to 12 years in prison, while his wife Julie will serve seven years. Both will also be expected to serve 16 months of probation.

Notably, in addition to the aforementioned charges, prosecutors also accused Julie of attempting to rent a California home with fake bank statements and a false credit report. They also claimed that, months after officially renting the property, the Chrisleys began refusing to pay rent. "Over the course of a decade, the defendants defrauded banks out of tens of millions of dollars while evading payment of their federal income taxes," U.S. Attorney Ryan K. Buchanan said in a statement. "Their lengthy sentences reflect the magnitude of their criminal scheme and should serve as a warning to others tempted to exploit our nation's community banking system for unlawful personal gain."

On June 7, it was reported that Todd and Julie were found guilty on federal charges of bank fraud and tax evasion, as well as charges of submitting false documents to banks for loans. Peter Tarantino, an accountant the couple hired, was found guilty of conspiracy to defraud the United States and willfully filing false tax returns, per AP. Following the verdict, Todd's attorney, Bruce Morris, told TMZ, "We are disappointed in the verdict. We plan an appeal." 

The couple's lawyer Steve Friedberg confirmed this, telling PEOPLE, "Both Chrisleys are devastated and disappointed with the verdict and will be pursuing an appeal. Julie and Todd are so grateful for the love and support shown by their family, friends and fans. They both remain strong in their faith and will continue the 'fight' until they are vindicated." Friedberg continued, "They have their priorities in order and are currently concentrating on the welfare of their children and Todd's mother, Elizabeth Faye Chrisley."