I hate to give this creep any attention, but at least this time it’s to report that he’s now facing federal tax evasion charges.
Joe Francis, who reportedly makes an estimated $29 million a year from the exploitative videos, was indicted last week by a federal grand jury in Reno, Nev., on charges of deducting more than $20 million in false business expenses on his California and Nevada companies’ 2002 and 2003 tax returns.
The improper business deductions, according to the indictment, include $3.78 million used to build a residence in Punta Mita, Mexico,
When the tax fraud indictment was handed down, the 34-year-old Francis was in a Florida jail on a criminal contempt of court charge in connection with a civil lawsuit brought by seven women who were underage when they were filmed during spring break in 2003.
Finally! Karma.
Michael Handy
What an idiot!
When you have a good thing going, and it’s legal, usually you protect it. Settle up with the young women who were under age. Pay your taxes.
So, he’s grossing $30M. After reasonable expenses he’s netting, what, $15M? Pay $5M in tax and he’s still got $10M to invest and spend.
Now he’ll probably spend millions in attorney fees to keep his butt out of jail. He’ll still pay the taxes plus penalties and interest.
And guess what the attorneys will do with their fees? Pay their expenses, put some into retirment plans, and pay their taxes!
Like I said, what an idiot!