'Chrisley Knows Best' reality stars sentenced for tax evasion: report

On Monday, The Daily Beast reported that Todd and Julie Chrisley, the stars of the reality TV series "Chrisley Knows Best," have been sentenced for their involvement in a federal tax fraud scheme.

"Todd Chrisley once said that while he could fix ignorance, stupid is forever. Guess it takes one to know one," reported A.J. McDougall. "The reality star of USA Network’s Chrisley Knows Best was sentenced to 12 years in federal prison on Monday for his role in a bank fraud and tax evasion scam. For her part in the scheme, Julie Chrisley, his wife of 26 years, was handed a seven-year sentence. Both Chrisleys will also serve 16 months’ probation."

The pair were convicted in June. Prosecutors detailed how they fraudulently inflated their net worth to get more favorable loan deals over a 5-year period between 2007 and 2012, cheating community banks out of $30 million. The report continued that the Chrisleys used this money "to live well beyond their means, all while shielding their money from the government to duck taxation."

The Chrisleys have maintained their innocence.

"In a Nov. 16 sentencing memorandum calling the Chrisleys 'career swindlers,' prosecutors had recommended handing Todd and Julie Chrisley nearly 22 years and 12 years behind bars, respectively," said the report. "The couple’s accountant, Peter Tarantino, was also sentenced on Monday to three years in prison after being convicted of filing two false corporate tax returns on their behalf."

This comes after another high-profile sentencing decision was handed down for Theranos cofounder and convicted fraudster Elizabeth Holmes, who was sentenced to 11 years in prison for swindling investors with promises of fake health care technology.