Federal prosecutors, who indicted the “Chrisley Knows Best” couple in 2019, said the Chrisleys deliberately “swindled” at least $30 million from community banks from 2007 to 2012 by inflating their net worth to get loans, purposely targeting smaller banks that did less due diligence than larger ones. Then Todd Chrisley filed for bankruptcy in 2012, erasing $20 million in loan debt.
IRS probably had tabs on these guys for a decade. Once they declared bankruptcy, it probably triggered a red flag.