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"Girls Gone Wild" Founder Indicted

Joe Francis arrives at the JT-TV launch party in Los Angeles on Feb. 9, 2007. (AP Photo/Matt Sayles)
AP Photo/Matt Sayles
"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.