"Girls Gone Wild" Founder Indicted

Joe Francis Accused Of Tax Evasion, Deducting More Than $20M In False Business Expenses

(CBS)  "Girls Gone Wild" founder Joe Francis has been indicted on charges of tax evasion, the Justice Department and Internal Revenue Service announced in a press release Wednesday.

The indictment says that Francis allegedly deducted more than $20 million in false business expenses on the companies' 2002 and 2003 corporate income tax returns, according to the release.

The press release about the indictment states that Francis used offshore bank accounts and entities supposedly owned by others to conceal money earned and allegedly transferred more than $15 million from an offshore bank account to a brokerage account in California.

Authorities said Francis could face up to 10 years in prison if convicted. He's also subject to fines of up to $500,000.

A press release issued by U.S. Marshal service from the Northern District of Florida on Tuesday said Francis was arrested after stepping off of a privately chartered jet.

Deputy U.S. Marshal P.J. Joanos said he had tried unsuccessfully on Monday to contact Francis’ lawyers in order to coordinate his surrender, a press release said.

Francis is due in court on May 22.

[djberson]

This guy MUST have known he is a prime candidate for being watched by the IRS. It is amazing what foolish risks people will take over "free" money.

[heresmy2cent]

What a shame. Mr. Francis runs such an admirable business enterprise.

Now if they would only indict Spike TV and the other cable channels that run this cockroach's trash commercials every night.

[johnshaft4]

Who can believe all of the morons who give him money to see this low grade porn.

[agnim]

Put this pimp in prison and close down his company for preying on and further demeans foolish females.
And that fine is too small. He should be stripped of every last cent!

[bellal-2009]

This just makes my day. I hope he goes to jail

[sero5]

Yet we another moron who wants to be a tax cheat by cooking his company books. The only reason the government went after his business is because all 17, 18-year-old girls who want to lose their tops for cash on video. On Wall Street, executives of major corporations lower their tax liability by showering campaign contributions on members of Congress. In return for campaign contributions, companies get tax breaks and loopholes written into the tax code.

[vet_sk]

You are a bunch of mean spirited people... and good Christians I'm sure - just like your war mongering Pres. Heck why don't you just stone the GGW dude to death too.
He filmed people having a good time (sure not the most socially uplifting person) but that is not reason to throw away the key. CRIPE!