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April 12, 2007

"Girls Gone Wild" founder Joe Francis indicted on tax evasion


Joe Francis is a self made millionaire from his porn-style video series called "Girls Gone Wild."  Now he finds himself indicted for tax evasion.

Francis, 34, was indicted in Reno, Nevada, on charges of deducting more than $20 million in false business expenses on the 2002 and 2003 corporate income tax returns for his California-based Mantra Films Inc. and Nevada-based Sands Media Inc.

If convicted he faces up to 10 years in prison and $500,000 in fines.  The indictment was handed down on Wednesday, one day after Francis was arrested in Panama City, Florida.  Joe said he was en route to turn himself in, but cops say he was a "day late, and a dollar short."

This isn't Francis' first run-in with the law.  In January, Joe was fined $500,000 in Los Angeles and ordered to perform 200 hours of community service for including footage of two 17-year-old girls engaging in explicit sex acts in a 2002 video.

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