The Truth About Todd Chrisley and Chrisley Asset Management
In 2008, Todd Chrisley hired Donna Cash as his assistant at Chrisley Asset Management. Braddock later claimed that Chrisley no longer wanted Cash because she was too “useless” and couldn’t keep up with the workload. Cash then began signing documents under Todd Chrisley’s name and even testified that Chrisley’s taxes weren’t paid.
Todd Chrisley is the founder of Chrisley Asset Management. Before starting the business, Chrisley owned real estate in Georgia. However, in 2013, the company went bankrupt. Chrisley’s financial troubles started when he was unable to pay back a $30 million loan. Eventually, he was forced to file for bankruptcy. He is also a father of five children from two marriages. He married Teresa Terry when he was 21 and was 19 when they had their first child. In 1996, the couple divorced. She says that Chrisley had been abusive to her for most of their marriage.
His net worth is estimated to be around $ 2 million. Most of his income is derived from real estate. His company focuses on loss recovery and liquidation of non-performing assets. Chrisley’s net worth was once estimated to be $46 million. However, his net worth has dropped to a mere $2.2 million due to his $45 million in debt. His company, however, still lives a lavish life.
Todd Chrisley’s wealth
Todd Chrisley’s wealth was not exactly an open secret until he was arrested in Atlanta in 2019. He was arrested and charged with multiple crimes, including tax evasion, wire fraud, and bank fraud. He is also accused of conspiring to defraud a mortgage company. In response to the charges, Chrisley pledged to release an update in April 2021.
In June of 2022, Todd Chrisley was found guilty of federal bank fraud and tax evasion. He and his wife Julie Chrisley were accused of taking fraudulent loans to maintain their lavish lifestyle. The two are under house arrest while they await trial. Until then, they’ve been portrayed as a regular family that didn’t have much money.
While Chrisley has an extravagant car collection and is in debt to multiple banks, his lavish lifestyle is not hidden. He owns Mercedes, Range Rovers, and Audis. Chrisley’s wealth has increased as a result of his successful TV show. His estimated production deal for his hit show, “Chrisley Knows Best,” was worth $75 million in August 2017.
In the Todd Chrisley trial, Donna Cash testified about fraud she committed while working for his asset management company. She claimed Mark Braddock, the company’s former business partner, instructed her to falsify financial documents to loan companies and lied about the company’s health. She claims that she stopped the scam when the Chrisley family’s home was in danger of foreclosure.
Todd Chrisley and his wife have been on trial for the last two weeks. Cash is Todd’s former assistant. She testified that Braddock told her that she was useless and told her not to tell Todd about what she was doing. Braddock told Cash not to tell Todd and threatened her with jail if she told him.
Todd Chrisley denies the allegations against him. Julie Chrisley and Todd Chrisley continue to be friends. The Chrisleys both deny the charges. Todd Chrisley is facing charges of tax evasion, conspiracy to defraud banks, and concealing money from the tax man. Julie Chrisley is also being investigated for her involvement in the scandal.
Mark Braddock, a former employee of Todd Chrisley, worked at his company, Chrisley Asset Management, which specialized in selling foreclosed properties. Braddock helped Todd grow his company from two employees to sixty. When Chrisley sold Executive Asset Management to another company in 2005, Braddock moved to the new company. He also testified that he and Chrisley lied about their income to appear wealthier and qualify for loans.
Braddock has admitted to cheating on his wife and committing adultery, but has defended his actions. He also admitted to having an affair with Chrisley, and said that he told his wife about the affair before the Atlanta jury. Braddock married Leslie Braddock in 1987. Their wedding anniversary will be in October 2021. They have two sons: Colin and Ian. Leslie is a real estate agent and has two children.
Braddock and Chrisley remained friends until 2012. In 2012, Braddock received anonymous text messages from someone threatening to expose his affair with Chrisley. Braddock agreed to pay the blackmailer $38,000 in cash. He withdrew it from his business account in four payments of $9500. Braddock then handed the money to Chrisley in a parking garage.