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‘Girls Gone Wild’ founder facing tax fraud charges

April 14, 2007

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_girlswildJoe 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, $10.4 million in "false consulting services" and a $500,000 false insurance expense.

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.

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Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

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Comments
  • Michael Handy
    20 years ago Reply

    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!

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