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.

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Phoenix Marie Stars in Latest From Blacked

Phoenix Marie stars with Isiah Maxwell, Hollywood Cash, and Chocolate Rod in a new airtight scene from Vixen Media Group studio imprint Blacked.

Eris Jolie Stars in Latest Release From GroobyVR

Eris Jolie stars in the latest POV release from GroobyVR.

Amirah Adara, Leya Desantis & Annalisa Atomic Blonde Star in 'Wicked Games' From MixedX

Amirah Adara, Leya Desantis and Annalisa Atomic Blonde star in the latest MixedX scene, “Wicked Games.”

Brazzers Debuts Limited Series 'MILF Spa'

Brazzers has released the first installment of its new limited series, "MILF Spa."

Casey Calvert, Victoria Voxxx Star in Latest 'Lez Be Bad'

Casey Calvert stars with Victoria Voxxx in "A Gift That Keeps on Giving," the latest episode of Adult Time series "Lez Be Bad."

BiPhoria Releases Jim Powers' 'Bi Hitchhikers 2'

Jim Powers directs the second installment of the BiPhoria series “Bi Hitchhikers.”

Ariel Demure Toplines 'TS Cheaters 6' From TransSensual

Ariel Demure headlines the sixth volume of “TS Cheaters,” from Mile High Media studio imprint TransSensual.

Kalani Luana Stars in Latest From Hookup Hotshot

Kalani Luana stars with Nade Nasty in the latest release from Hookup Hotshot (HUHS).

Lilyadick Makes Her TransAngels Debut

Canadian star Lilyadick has made her debut for TransAngels alongside Parker Savage in the video game-themed scene “Playing With The NPC Babe.”

Kazumi Stars in Latest From Tushy

Kazumi stars with Milan Ponjevic, Jax Slayher and Dan Damage in a new airtight scene from Vixen Media Group (VMG) studio imprint Tushy.

Show More