Todd and Julie Chrisley Are ‘Devastated’ After Being Convicted of Bank Fraud and Tax Evasion

Todd and Julie were found guilty on Tuesday of conspiracy to commit bank fraud, conspiracy to defraud the United States and tax fraud

Todd and Julie Chrisley are “devastated and disappointed” after a jury found them guilty on all counts of bank and tax fraud, their lawyer tells PEOPLE, adding that they plan to appeal.

On Tuesday, the reality TV couple was convicted of conspiracy to commit bank fraud, conspiracy to defraud the United States and tax fraud. Julie was also convicted of wire fraud. They are facing up to 30 years in prison and will be sentenced at a later date.

“Both Chrisleys are devastated and disappointed with the verdict and will be pursuing an appeal,” the pair’s lawyer Steve Friedberg tells PEOPLE.

“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. They have their priorities in order and are currently concentrating on the welfare of their children and Todd’s mother, Elizabeth Faye Chrisley.”

Another lawyer for the couple, Bruce Morris, echoed similar sentiments, telling PEOPLE that they are “disappointed in the verdict.” He added, “An appeal is planned.”

A rep for the Chrisleys did not immediately respond to PEOPLE’s request for comment.

Their oldest daughter, Lindsie Chrisley, spoke out on the conviction in an Instagram post, saying that the “verdict is not what I had hoped or prayed for, and I am deeply saddened for myself, my son and my family as a whole.”

She confirmed she’ll be taking time away from her podcasts Coffee Convos and The Southern Tea and will “be back when the time is right.” She ended by asking for prayers and thanking fans for their support.

Lindsie Chrisley Is ‘Deeply Saddened’ by Parents Todd and Julie’s Conviction for Financial Crimes;
Credit: Loveleigh Co. Photography;
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During the three-week trial, prosecutors alleged that Todd, 53, and Julie, 49, falsified documents to get $30 million in bank loans to pay for their lavish lifestyles. They then filed for bankruptcy so they wouldn’t have to pay the more than $20 million they owed in debt, Atlanta’s WSB-TV reported.

According to the Atlanta Journal-Constitution, prosecutors said the Chrisleys intentionally “swindled” smaller banks to rack up the $30 million bill between 2007 and 2012, two years before their reality show debuted on USA in 2014.

Prosecutors also argued that the stars lied about the millions they made from Chrisley Knows Best, along with $500,000 in back taxes that Todd owed for 2009. They were accused of launching a shell company, 7C’s Productions, to put in Julie’s name to prevent the IRS from seizing the half-million owed from 2009.

According to Insider, the pair’s former lawyer Peter Tarantino was also found guilty of conspiracy to defraud the United States and willfully filing false tax returns.

The ninth season of USA’s Chrisley Knows Best is scheduled to return June 23 after going on hiatus in December. The show has been renewed for a 10th season. In addition, Todd hosts and executive produces a speed-dating match-making series titled Love Limo.

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