Todd and Julie Chrisley, stars of USA Network's Chrisley Knows Best, have been sentenced to serve in federal prison after having been found guilty of bank fraud and tax evasion.

According to a press release from the US Department of Justice, Todd Chrisley is set to serve 12 years in prison with 16 months of probation, while wife Julie Chrisley has been sentenced to seven years in prison with 16 months of probation. The couple was convicted of criminal bank fraud this past June in relation to fake documents they had submitted in order to secure $30 million in loans, as well as on charges of tax evasion for failing to properly file and pay their taxes for four years.

In addition to allegations that Julie had submitted fake statements in order to rent a home, the couple was accused of using their production company to hide their money from the IRS. The couple allegedly attempted to obstruct justice by submitting a fraudulent document to the court following a grand jury subpoena. The Chrisleys' accountant, Peter Tarantino, was also sentenced to three years in prison for filing two false corporate tax returns on the couple's behalf and other tax-related violations.

“This sentencing serves notice that no matter a person’s celebrity status, there are severe consequences for defrauding the American tax system,” special agent in charge of the IRS Criminal Investigation Atlanta field office, James E. Dorsey, said in a statement.

In response to the sentencing, the Chrisleys' namesake show may also have been canceled as a result. Several episodes of season 10 of Chrisley Knows Best filmed prior to the trial are set to air sometime early next year, but the show's spinoffs, Growing Up Chrisley and Love Limo, have been canceled, according to Page Six.

Ahead of the sentencing, Todd Chrisley addressed the court case on an episode of his podcast Chrisley Confessions. “I got lost when I couldn’t tell the difference in my self-worth and my net worth and the bigger my net worth became, the less I focused on my self-worth because everything was being built around that net worth. Around stuff," he said.

"You become a slave to the things that you thought were going to bring you peace. So I got lost in that and for my whole life because I think I was too ignorant — and when I use the word ignorant [I mean] I [didn’t] know that I understood how to differentiate self-worth and net worth.”

Photo via Getty/ Dennis Leupold/ USA Network/ NBCU Photo Bank/ NBCUniversal

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