Kyle Chrisley, Son Of Imprisoned Reality TV Stars Todd And Julie Chrisley, Arrested For Aggravated Assault

Kyle Chrisley, whose reality TV star parents Todd and Julie Chrisley are currently in prison for fraud, was just arrested himself in Tennessee for aggravated assault.

The Smyrna Police Department posted details of the arrest which happened on Monday but provided no additional specifics. In a press release obtained by People Magazine, however, the police department said Kyle, 32, was involved in a physical altercation with a supervisor where he works at Penske Truck Rental.

During the incident, Kyle allegedly pulled out a “fixed blade,” the press release said. The day after the alleged attack, Kyle “voluntarily appeared … for booking procedures related to the active criminal warrant,” police said in the press release. Kyle was taken to Rutherford County Adult Detention Center but was released on a $3,000 bond. The public citation says his next court appearance is scheduled for March 28.

Kyle is the son of Todd and Julie Chrisley, who were convicted last June of conspiracy to commit bank fraud, bank fraud, tax fraud, and conspiracy to defraud the United States. In addition, Julie was also convicted on a charge of wire fraud and obstruction of justice. In November, the two stars of “Chrisley Knows Best” were sentenced to federal prison.

Judge Eleanor L. Ross of the U.S. District Court in Atlanta sentenced Todd to 12 years in prison followed by three years of probation, CNN reported. Ross sentenced Julie to seven years in prison followed by three years of probation. In addition, the couple had to pay restitution for their crimes, though the exact amount is unknown at this time, The New York Times reported.

Peter Tarantino, who worked as the couple’s accountant and was convicted of filing false corporate tax returns for the Chrisleys’ company, was sentenced to three years in prison followed by three years of probation.

Attorneys for the Chrisleys had argued for a reduced sentence, saying the couple has fully accounted for all their income and that many people – including Todd’s mother and the crew who worked on their reality television show – would be negatively impacted by their incarceration. The defense requested Todd receive a combined sentence of limited imprisonment and supervised release in addition to paying restitution. The defense also argued for a new trial, claiming an IRS officer falsely testified and that the prosecution put her up to it.

Todd Chrisley made a fortune through Chrisley Asset Management, a real estate company he founded in Georgia, The Daily Wire previously reported. The success of the business, combined with Todd’s personality and large family, made him a perfect candidate for reality TV, which led to “Chrisley Knows Best.”

Even before the Chrisleys began their reality show in 2014, they had financial problems. In 2012, Todd filed for bankruptcy protection. Explaining the filing, his lawyer told People, “He guaranteed a real estate development loan and it failed. He was on the hook for $30 million. If he hadn’t had that happen, he would have been fine, financially.”

The Department of Justice (DOJ), however, explained that the Chrisleys — prior to their reality show — “conspired to defraud community banks in the Atlanta area to obtain more than $30 million in personal loans.”

With the help of a business partner, Mark Braddock, the Chrisleys “submitted false bank statements, audit reports, and personal financial statements to banks to obtain the millions of dollars in fraudulent loans,” the DOJ wrote.

In 2017, the couple’s problems expanded. WSB-TV reported at the time that the Chrisleys owed nearly $800,000 in taxes to the state of Georgia and had declared their residency on numerous public records before moving to Nashville, Tennessee, in 2016.

In 2018, Todd sued Homebanc Mortgage Corporation, Radar Online reported, alleging a “former business partner” forged Todd’s name on the mortgage and made some payments on his behalf. Todd also claimed that the same business partner was the reason he had to file for bankruptcy protection in 2012.

In 2019, the Chrisleys were indicted. After a three-week trial in 2022, the couple was convicted.

How To Crash The Economy, Big Government Style

We are in a looming financial crisis, even if we don’t want to see it.

Silicon Valley Bank (SVB) was, according to Moody’s, worthy of an investment-grade rating as of March 8, 2023. S&P Global Ratings similarly held a high opinion of SVB. Two days later, SVB was shut down; immediately, Moody’s dropped SVB into junk territory. So did S&P Global Ratings. Within days, Signature Bank — with Barney Frank, co-sponsor of the famed and much-ballyhooed Dodd-Frank Act, on the board — went belly up.

The Biden administration, touting its own heroism, immediately stepped in to fill the gap. Concerned that unsecured depositors would lose billions in cash, Team Biden announced that all unsecured depositors would get their money back; the Federal Reserve launched a Bank Term Funding Program, to create additional reserves for the banks. Then Joe Biden himself claimed that he had stabilized the banking system.

He hasn’t.

To understand just why throwing money at the problem with the banks won’t solve the underlying issue, we need to understand just why SVB failed in the first place. It failed thanks to three specific factors: from 2020 to 2022, the federal government injected more liquidity into the American economy than at any time in history, bar none; SVB, trusting that the liquidity would keep on coming, socked away a large amount of that liquidity into bonds, which bore a low interest rate; the federal government, having now created an inflationary wildfire, had to count on the Federal Reserve to cut inflation by raising interest rates. Those increased interest rates made SVB’s bond holdings lower; when depositors, hampered by the lack of easy money, started to withdraw their cash, SVB had to liquidate the bonds at a loss, essentially bankrupting them.

So, what happened? Simply put, the federal government created a carousel of easy cash; investors thought the carousel would never stop; it stopped. Now, the federal government blames capitalism — and in the process, claims that by injecting more liquidity into the system, it will prevent capitalism from melting down the banks. But instead, the federal government has created two new problems: first, the Federal Reserve has now given itself the unenviable task of simultaneously quashing inflation (which requires raising interest rates) and shoring up the banks (which requires lowering them and/or injecting more liquidity); second, the federal government has created a new and massive moral hazard, whereby bank managers know that if they promise outsized returns to their depositors, they can gain their business — and worst case scenario, the government will bail out the depositors anyway.

Now the experts tell us that the Biden team will achieve a soft landing – that they’ll somehow square the circle, lowering inflation while preventing bank assets from depreciating, incentivizing financial responsibility while simultaneously backstopping bad decision-making, promoting fiscal responsibility while proposing $7 trillion budgets. No one has this kind of power, least of all the team that’s brought America four-decade-high inflation, the highest interest rates since before the 2007-2008 financial crash, and an ever-soaring national debt.

No, the crisis will arrive. If it feels like the federal government can fly, that’s just because it always feels that way when you jump out of a tenth-story window and you’re nine stories down. Joe Biden and the economy are not immune to the forces of financial gravity.

About Us

Virtus (virtue, valor, excellence, courage, character, and worth)

Vincit (conquers, triumphs, and wins)