Joe Francis, the “Girls Gone Wild” founder Now Indicted for Federal Tax Evasion

One way or another the law was going to catch up with video teenager skin merchant, Joe Francis, the founder of “Girls Gone Wild”. They had earlier provided slaps on the wrist; however, this indictment is going to leave a mark. Francis was indicted for federal tax evasion for “illegally deducting more than $20 million in phony business expenses from his 2002 and 2003 corporate tax returns.”

According to a two count indictment filed in U.S. District Court in Reno, Nevada, Francis, 34, sought to conceal income through the use of offshore companies and nominees. At one point, he transferred $15 million from one offshore bank account to a California brokerage account in the name of a Cayman Islands corporation he controlled.

Read the full indictment at The Smoking Gun.

Previous posts:

• ‘Girls Gone Wild’ CEO Joe Francis Sentenced to Probation … Yea there’s some Tough Love
• Girls Gone Wild Founder, Joseph Francis, Guilty of Violating Child Exploitation Law