Joe Francis Indicted on Tax Evasion Charges

gonzo · 04-11-2007

RENO, Nev. — "Girls Gone Wild" founder Joe Francis was charged with tax evasion today, having deducted more than $20 million in apparent false business expenses on his 2002 and 2003 tax returns.

According to the indictment, Francis used offshore bank accounts to hide income made during those two years. He used a Cayman Islands corporation, which Francis controlled, to transfer more than $15 million of his secret money into his Irvine, Calif., account.

Francis faces up to 10 years in prison and fines of up to $500,000 if convicted.

He is scheduled to appear in Reno, Nev., court May 22.

The indictment follows Francis' Tuesday arrest in Panama City, Fla., where a judge had ordered him jailed until talks to settle a civil lawsuit are completed.

04-11-2007	#1
gonzo Fat Fucking Nobody Want to see your own Advertising Here! Join Date: Apr 2003 Location: Atlanta,Ga. Posts: 17,795 Blog Entries: 11	Joe Francis Indicted on Tax Evasion Charges RENO, Nev. — "Girls Gone Wild" founder Joe Francis was charged with tax evasion today, having deducted more than $20 million in apparent false business expenses on his 2002 and 2003 tax returns. According to the indictment, Francis used offshore bank accounts to hide income made during those two years. He used a Cayman Islands corporation, which Francis controlled, to transfer more than $15 million of his secret money into his Irvine, Calif., account. Francis faces up to 10 years in prison and fines of up to $500,000 if convicted. He is scheduled to appear in Reno, Nev., court May 22. The indictment follows Francis' Tuesday arrest in Panama City, Fla., where a judge had ordered him jailed until talks to settle a civil lawsuit are completed. __________________ We are putting the bastards of this world on notice; greed and corruption will always be met with "a voice made of ink and rage." "Never try and be like anyone else" - Hunter S. Thompson "The truth is the truth no matter how you try and package a lie" - Shellee Hale