The founder of the soft porn "Girls Gone Wild" videos has accepted a plea agreement in his tax evasion case on the day before his trial was set to begin. Under the deal, Francis was sentenced to time already served and one year probation.Francis will also have to pay $250,000 in restitution to the IRS.
Francis was accused of omitting more than $500,000 in interest income on his 2003 tax returns and was initially accused of taking $20 million in fraudulent tax deductions in 2007.
Problem With a Witness
The federal case against Francis fell apart when prosecutors found out that a key witness had withheld information from them. They found out about hundreds of email messages sent to Francis' former accountant Michael Barret in which Francis accused him of fraudulently billing him for hundreds of thousands of dollars in phony services and expenses.
Barrett's value as a witness was further hurt by the fact that he had sought a reward from the IRS for exposing alleged wrongdoing by Francis.
Francis, who was described as "ecstatic" by the turn of events, said he would get busy working to build the "Girls Gone Wild" brand.
See Also:
Judge OKs Plea Deal for 'Girls Gone Wild' Founder
Background:
The Legal Troubles of Joe Francis
What Is Your Opinion?
Discuss The Joe Francis Case
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Photo: Mug Shot
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