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Wii... heh huh huh...
Apr. 12th, 2007 02:31 pm
Apr. 12th, 2007
Tax evasion charges add to Francis' legal woes
The 'Girls Gone Wild' entrepreneur is indicted a day after his arrest in an unrelated civil case.
By Richard Verrier, Times Staff Writer
April 12, 2007
The founder of the risque "Girls Gone Wild" empire was indicted Wednesday on two counts of tax evasion by a federal grand jury, the latest in a series of legal woes for the Santa Monica entrepreneur.
The indictment in Reno of Joe Francis, 34, follows his arrest by federal marshals Tuesday on a contempt-of-court citation stemming from a civil case in Florida, where he is being held without bail.
Wednesday's charges alleged that Francis deducted more than $20 million in false business expenses on corporate income tax returns filed in 2002 and 2003 by two of his companies, Mantra Films Inc. and Sands Media Inc.
Alleged improper deductions included $3.78 million that was counted as a business cost when it was actually spent to build a residence in Punta Mita, Mexico. In addition, $10.4 million in "false consulting services" was deducted, as was a $500,000 false insurance expense, according to the indictment.
The indictment also alleged that Francis used offshore bank accounts to conceal income earned in 2002 and 2003 through his companies. At the time, the indictment said, Francis was a legal resident of Incline Village, Nev.
(Read the rest of this article.)
The 'Girls Gone Wild' entrepreneur is indicted a day after his arrest in an unrelated civil case.
By Richard Verrier, Times Staff Writer
April 12, 2007
The founder of the risque "Girls Gone Wild" empire was indicted Wednesday on two counts of tax evasion by a federal grand jury, the latest in a series of legal woes for the Santa Monica entrepreneur.
The indictment in Reno of Joe Francis, 34, follows his arrest by federal marshals Tuesday on a contempt-of-court citation stemming from a civil case in Florida, where he is being held without bail.
Wednesday's charges alleged that Francis deducted more than $20 million in false business expenses on corporate income tax returns filed in 2002 and 2003 by two of his companies, Mantra Films Inc. and Sands Media Inc.
Alleged improper deductions included $3.78 million that was counted as a business cost when it was actually spent to build a residence in Punta Mita, Mexico. In addition, $10.4 million in "false consulting services" was deducted, as was a $500,000 false insurance expense, according to the indictment.
The indictment also alleged that Francis used offshore bank accounts to conceal income earned in 2002 and 2003 through his companies. At the time, the indictment said, Francis was a legal resident of Incline Village, Nev.
(Read the rest of this article.)
What a shame. He had all the makings of a successful pornographer, but instead turned out to be just your garden variety Enron fanboy.
Select your domain name carefully!
Apr. 12th, 2007 10:29 pmThis was an email from a mailing list that I'm on. It underscores why you should be very careful about picking a domain name:
All of these are legitimate companies that didn't spend quite enough time considering how their online names might appear ... and be misread! These are not made up. Check them out yourself!
1. Who Represents is where you can find the name of the agent that represents any celebrity. Their web site is http://www.whorepresents.com
2. Experts Exchange is a knowledge base where programmers can exchange advice and views at http://www.expertsexchange.com
3. Looking for a pen? Look no further than Pen Island at http://www.penisland.net
4. Need a therapist? Try Therapist Finder at http://www.therapistfinder.com
5. There's the Italian Power Generator company, http://www.powergenitalia.com
6. And don't forget the Mole Station Native Nursery in New South Wales, http://www.molestationnursery.com
7. If you're looking for IP computer software, there's always http://www.ipanywhere.com
8. The First Cumming Methodist Church web site is http://www.cummingfirst.com
9. And the designers at Speed of Art await you at their wacky Web site, http://www.speedofart.com
1. Who Represents is where you can find the name of the agent that represents any celebrity. Their web site is http://www.whorepresents.com
2. Experts Exchange is a knowledge base where programmers can exchange advice and views at http://www.expertsexchange.com
3. Looking for a pen? Look no further than Pen Island at http://www.penisland.net
4. Need a therapist? Try Therapist Finder at http://www.therapistfinder.com
5. There's the Italian Power Generator company, http://www.powergenitalia.com
6. And don't forget the Mole Station Native Nursery in New South Wales, http://www.molestationnursery.com
7. If you're looking for IP computer software, there's always http://www.ipanywhere.com
8. The First Cumming Methodist Church web site is http://www.cummingfirst.com
9. And the designers at Speed of Art await you at their wacky Web site, http://www.speedofart.com