IRS: Joe Francis caught in $20 million corporate tax scheme

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  • tony286
    lurker
    • Aug 2002
    • 57021
    #1

    IRS: Joe Francis caught in $20 million corporate tax scheme

    http://www.thesmokinggun.com/archive...efrancis1.html
    man when it rains it pours
    Tags: None
    • NaughtyRob
      Two fresh affiliate progs
      • Nov 2004
      • 29602
      #2
      [email protected]
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        • Wizzo
          2011 GFY Hall of Fame!
          • Nov 2000
          • 15224
          #3
          Now that one he should be worried about...
          Looking for Opportunity!

            Comment

            • The Real Deal
              Confirmed User
              • Apr 2005
              • 570
              #4
              Lube up that ass. Thats going to hurt.

                Comment

                • xclusive
                  Too lazy to set a custom title
                  • Apr 2004
                  • 35218
                  #5
                  ouch, What a fool, Ya don't fuck with the IRS

                  I support MediumPimpin.com / Shemp's Outlawtgp.com /


                    Comment

                    • baddog
                      So Fucking Banned
                      • Apr 2001
                      • 107089
                      #6
                      You know, when you start doing stupid things, like ignoring a contempt of court order you start drawing undesired attention to yourself.

                      Unfortunately, money does not buy brains, and if his attornies were advising him he apparently was not heeding their advice.

                        Comment

                        • MaDalton
                          I am Amazing Content!
                          • Feb 2004
                          • 39861
                          #7
                          greed is the source of all evil
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                            • Snake Doctor
                              I'm Lenny2 Bitch
                              • Mar 2001
                              • 13449
                              #8
                              Wow, from king of the world to convict in just a few years. Would be one hell of a fall if he's found guilty.
                              sig too big

                                Comment

                                • XPays
                                  Team Player
                                  • May 2004
                                  • 13002
                                  #9
                                  his attorney is going to be billing him obscenely
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                                    • hollinator
                                      Confirmed User
                                      • Jul 2005
                                      • 391
                                      #10
                                      Originally posted by baddog
                                      You know, when you start doing stupid things, like ignoring a contempt of court order you start drawing undesired attention to yourself.

                                      Unfortunately, money does not buy brains, and if his attornies were advising him he apparently was not heeding their advice.
                                      I second that, Baddog
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                                        • DjSap
                                          Confirmed User
                                          • Jul 2002
                                          • 3869
                                          #11
                                          Read through the stuff and it looks pretty solid. If I were him I would be leaving the country.
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                                            Comment

                                            • xclusive
                                              Too lazy to set a custom title
                                              • Apr 2004
                                              • 35218
                                              #12
                                              Originally posted by XPays
                                              his attorney is going to be billing him obscenely
                                              By the end it would have probably been cheaper to pay the $20 mil

                                              I support MediumPimpin.com / Shemp's Outlawtgp.com /


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                                                • Supz
                                                  Arthur Flegenheimer
                                                  • Jul 2006
                                                  • 11057
                                                  #13
                                                  he MIGHT do a couple of years. big woop. ide trade 20 million for a couple years in the joint

                                                    Comment

                                                    • Scootermuze
                                                      Confirmed User
                                                      • Dec 2001
                                                      • 4513
                                                      #14
                                                      Originally posted by baddog
                                                      You know, when you start doing stupid things, like ignoring a contempt of court order you start drawing undesired attention to yourself.

                                                      Unfortunately, money does not buy brains, and if his attornies were advising him he apparently was not heeding their advice.
                                                      True...

                                                      And when the law can't find enough to do the deed, they sometimes bring in the IRS to see what they can find on their end with hopes of gettin' the bad guy that way.. That's how they finally got some of the old gangsters back in the day..

                                                        Comment

                                                        • After Shock Media
                                                          It's coming look busy
                                                          • Mar 2001
                                                          • 35299
                                                          #15
                                                          Some of those deductions are well fucking funny. Hell you would think with his money he could of at least afforded a more creative accountant if he planed on cheating.

                                                          [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

                                                            Comment

                                                            • u-Bob
                                                              there's no $$$ in porn
                                                              • Jul 2005
                                                              • 33063
                                                              #16
                                                              ouch ...

                                                                Comment

                                                                • After Shock Media
                                                                  It's coming look busy
                                                                  • Mar 2001
                                                                  • 35299
                                                                  #17
                                                                  Originally posted by supzdotcom
                                                                  he MIGHT do a couple of years. big woop. ide trade 20 million for a couple years in the joint
                                                                  I wouldnt if my job was getting thousands of daddies lil girls to expose themselves and much much more on video, the web, and national tv spots just for a hat and t-shirt. I would be very concerned with how many of those daddies may be in prison with me if I was him. I am fairly sure they would be very fond of his twink ass.

                                                                  [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

                                                                    Comment

                                                                    • DjSap
                                                                      Confirmed User
                                                                      • Jul 2002
                                                                      • 3869
                                                                      #18
                                                                      Originally posted by supzdotcom
                                                                      he MIGHT do a couple of years. big woop. ide trade 20 million for a couple years in the joint
                                                                      It doesn't work like that. He will be paying the 20 million back to the IRS in addition to a fine. Then he'll have to fork out the legal fees, which for good tax lawyers usually go to somewhere around 2-4k per hour.
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                                                                        • WiredGuy
                                                                          Pounding Googlebot
                                                                          • Aug 2002
                                                                          • 34515
                                                                          #19
                                                                          Federal tax audit, ohhhhh baby. Those are fun!
                                                                          WG
                                                                          I play with Google.

                                                                            Comment

                                                                            • Drake
                                                                              Hello world!
                                                                              • Mar 2003
                                                                              • 12508
                                                                              #20
                                                                              The judge that he told off recently is probably smiling right now.

                                                                                Comment

                                                                                • AsianDivaGirlsWebDude
                                                                                  Purveyor, Fine Asian Porn
                                                                                  • Jul 2004
                                                                                  • 38323
                                                                                  #21
                                                                                  They got what it takes to take what you got...



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                                                                                    • Peaches
                                                                                      Old broad
                                                                                      • Oct 2002
                                                                                      • 13933
                                                                                      #22
                                                                                      Don't forget they finally got Al Capone on income tax evasion.

                                                                                        Comment

                                                                                        • AsianDivaGirlsWebDude
                                                                                          Purveyor, Fine Asian Porn
                                                                                          • Jul 2004
                                                                                          • 38323
                                                                                          #23
                                                                                          Originally posted by Peaches
                                                                                          Don't forget they finally got Al Capone on income tax evasion.


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                                                                                            • seeric
                                                                                              ..........
                                                                                              • Aug 2004
                                                                                              • 41917
                                                                                              #24
                                                                                              i keep tellin people get paid in carrots and broccoli

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                                                                                                • webair
                                                                                                  Confirmed User
                                                                                                  • Feb 2002
                                                                                                  • 8531
                                                                                                  #25
                                                                                                  Originally posted by baddog
                                                                                                  You know, when you start doing stupid things, like ignoring a contempt of court order you start drawing undesired attention to yourself.

                                                                                                  Unfortunately, money does not buy brains, and if his attornies were advising him he apparently was not heeding their advice.

                                                                                                  "attorneys"


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                                                                                                    • NinjaSteve
                                                                                                      Too lazy to set a custom title
                                                                                                      • Dec 2003
                                                                                                      • 11089
                                                                                                      #26
                                                                                                      Whoooooooa! WTF!
                                                                                                      ...

                                                                                                        Comment

                                                                                                        • JMM
                                                                                                          Confirmed User
                                                                                                          • Apr 2001
                                                                                                          • 1755
                                                                                                          #27
                                                                                                          Originally posted by WiredGuy
                                                                                                          Federal tax audit, ohhhhh baby. Those are fun!
                                                                                                          WG
                                                                                                          This isn't an audit, this is an indictment.

                                                                                                          Remember, this is how they got Al Capone.

                                                                                                            Comment

                                                                                                            • JMM
                                                                                                              Confirmed User
                                                                                                              • Apr 2001
                                                                                                              • 1755
                                                                                                              #28
                                                                                                              Originally posted by JMM
                                                                                                              This isn't an audit, this is an indictment.

                                                                                                              Remember, this is how they got Al Capone.
                                                                                                              Note to self: read entire thread before making specific references.

                                                                                                                Comment

                                                                                                                • Barefootsies
                                                                                                                  Choice is an Illusion
                                                                                                                  • Feb 2005
                                                                                                                  • 42635
                                                                                                                  #29
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                                                                                                                    • RedShoe
                                                                                                                      赤い靴 call me 202-456-1111
                                                                                                                      • Feb 2001
                                                                                                                      • 14831
                                                                                                                      #30
                                                                                                                      Originally posted by After Shock Media
                                                                                                                      I wouldnt if my job was getting thousands of daddies lil girls to expose themselves and much much more on video, the web, and national tv spots just for a hat and t-shirt. I would be very concerned with how many of those daddies may be in prison with me if I was him. I am fairly sure they would be very fond of his twink ass.
                                                                                                                      My uncle used to work in Corcoran. He said prisioners like it when high profile people become inmates. Fucking up a high profile inmate bodes well with other inmates.

                                                                                                                      I thought it was pretty foolish to begin with that he set up Mantra as an S-Corp.

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                                                                                                                        • LiveDose
                                                                                                                          Show Yer Tits!
                                                                                                                          • Feb 2002
                                                                                                                          • 25792
                                                                                                                          #31
                                                                                                                          It's pretty clear his ego was influencing his decision making... What a complete dumb ass. As a rich daddy's boy though I guess it's not surprising.

                                                                                                                          This is exactly what the MAN wanted. He's toast if it's true.

                                                                                                                          Scammer Alert: acer19 acer [email protected] [email protected] Money stolen using PayPal

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                                                                                                                            • JP-pornshooter
                                                                                                                              Confirmed User
                                                                                                                              • Sep 2006
                                                                                                                              • 4007
                                                                                                                              #32
                                                                                                                              Thats my number one rule.. dont cheat on taxes, its too easy to get caught and they will fuckin roast your ass..
                                                                                                                              "Obscenity is whatever gives the Judge an erection." -- Author Unknown

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                                                                                                                                • Worried
                                                                                                                                  Confirmed User
                                                                                                                                  • Apr 2007
                                                                                                                                  • 149
                                                                                                                                  #33
                                                                                                                                  Originally posted by RedShoe
                                                                                                                                  My uncle used to work in Corcoran. He said prisioners like it when high profile people become inmates. Fucking up a high profile inmate bodes well with other inmates.

                                                                                                                                  I thought it was pretty foolish to begin with that he set up Mantra as an S-Corp.
                                                                                                                                  Why was it foolish to have it set up as s-corp?

                                                                                                                                  Does the government frown on S-corp?

                                                                                                                                  I'm getting incorporated soon and I'll be talking to a cpa but I still want to know why it's stupid.

                                                                                                                                    Comment

                                                                                                                                    • baddog
                                                                                                                                      So Fucking Banned
                                                                                                                                      • Apr 2001
                                                                                                                                      • 107089
                                                                                                                                      #34
                                                                                                                                      Originally posted by webair
                                                                                                                                      "attorneys"
                                                                                                                                      I know, I noticed it but my crappy wireless here in Bumfuck, IN did not allow me to get back to edit it. Damn snow.

                                                                                                                                        Comment

                                                                                                                                        • dynastoned
                                                                                                                                          mmm yeah!
                                                                                                                                          • Feb 2005
                                                                                                                                          • 5061
                                                                                                                                          #35
                                                                                                                                          number one rule don't fuck with the IRS. they have interrogation rooms just like the FBI believe me i've been there.

                                                                                                                                            Comment

                                                                                                                                            • Drake
                                                                                                                                              Hello world!
                                                                                                                                              • Mar 2003
                                                                                                                                              • 12508
                                                                                                                                              #36
                                                                                                                                              Originally posted by LiveDose
                                                                                                                                              It's pretty clear his ego was influencing his decision making... What a complete dumb ass. As a rich daddy's boy though I guess it's not surprising.

                                                                                                                                              This is exactly what the MAN wanted. He's toast if it's true.
                                                                                                                                              He came from a rich family? Sheesh, greed really got the better of him.

                                                                                                                                                Comment

                                                                                                                                                • Rochard
                                                                                                                                                  Jägermeister Test Pilot
                                                                                                                                                  • Dec 2001
                                                                                                                                                  • 75761
                                                                                                                                                  #37
                                                                                                                                                  This is a set up... They waited until they had him in jail on this silly crap and then hammered him hard. This is worst case. They want to make an example of him.
                                                                                                                                                  Herschel Savage
                                                                                                                                                  Brooklyn, NY

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                                                                                                                                                    • uno
                                                                                                                                                      RIP Dodger. BEST.CAT.EVER
                                                                                                                                                      • Dec 2002
                                                                                                                                                      • 18450
                                                                                                                                                      #38
                                                                                                                                                      Originally posted by baddog
                                                                                                                                                      You know, when you start doing stupid things, like ignoring a contempt of court order you start drawing undesired attention to yourself.

                                                                                                                                                      Unfortunately, money does not buy brains, and if his attornies were advising him he apparently was not heeding their advice.
                                                                                                                                                      It appears the war has begun.
                                                                                                                                                      -uno
                                                                                                                                                      icq: 111-914
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                                                                                                                                                        • uno
                                                                                                                                                          RIP Dodger. BEST.CAT.EVER
                                                                                                                                                          • Dec 2002
                                                                                                                                                          • 18450
                                                                                                                                                          #39
                                                                                                                                                          Originally posted by MaDalton
                                                                                                                                                          greed is the source of all evil
                                                                                                                                                          The point is, ladies and gentleman, that greed -- for lack of a better word -- is good.

                                                                                                                                                          Greed is right.

                                                                                                                                                          Greed works.

                                                                                                                                                          Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.

                                                                                                                                                          Greed, in all of its forms -- greed for life, for money, for love, knowledge -- has marked the upward surge of mankind.

                                                                                                                                                          And greed -- you mark my words -- will not only save Teldar Paper, but that other malfunctioning corporation called the USA.

                                                                                                                                                          -Gordon Gekko
                                                                                                                                                          -uno
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                                                                                                                                                            • LiveDose
                                                                                                                                                              Show Yer Tits!
                                                                                                                                                              • Feb 2002
                                                                                                                                                              • 25792
                                                                                                                                                              #40
                                                                                                                                                              Originally posted by Mike33
                                                                                                                                                              He came from a rich family? Sheesh, greed really got the better of him.

                                                                                                                                                              His Dad is/was the big cheese at Mandalay Entertainment.

                                                                                                                                                              Scammer Alert: acer19 acer [email protected] [email protected] Money stolen using PayPal

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                                                                                                                                                                • RawAlex
                                                                                                                                                                  So Fucking Banned
                                                                                                                                                                  • Oct 2003
                                                                                                                                                                  • 9465
                                                                                                                                                                  #41
                                                                                                                                                                  Umm, slight correction...


                                                                                                                                                                  He faces 10 years and / or $500,000 fine - plus you can be sure that all of his taxes for however long they can go back will be audited and he will be paying tax. That 20 million isn't his to keep.

                                                                                                                                                                  Considering that he is a very public "porn guy", don't be shocked if he gets max'ed out on this one.

                                                                                                                                                                    Comment

                                                                                                                                                                    • AsianDivaGirlsWebDude
                                                                                                                                                                      Purveyor, Fine Asian Porn
                                                                                                                                                                      • Jul 2004
                                                                                                                                                                      • 38323
                                                                                                                                                                      #42
                                                                                                                                                                      I expect we will be seeing a more humble Joe during his next court appearance, unless he wants to see what a "Judge Gone Wild", truly means...

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                                                                                                                                                                        • Scootermuze
                                                                                                                                                                          Confirmed User
                                                                                                                                                                          • Dec 2001
                                                                                                                                                                          • 4513
                                                                                                                                                                          #43
                                                                                                                                                                          Originally posted by Rochard
                                                                                                                                                                          This is a set up... They waited until they had him in jail on this silly crap and then hammered him hard. This is worst case. They want to make an example of him.
                                                                                                                                                                          I don't think the IRS needs a local sherrif to corner someone before they jump in.. They've probably been going through his paperwork for awhile..

                                                                                                                                                                            Comment

                                                                                                                                                                            • baddog
                                                                                                                                                                              So Fucking Banned
                                                                                                                                                                              • Apr 2001
                                                                                                                                                                              • 107089
                                                                                                                                                                              #44
                                                                                                                                                                              Originally posted by Rochard
                                                                                                                                                                              This is a set up... They waited until they had him in jail on this silly crap and then hammered him hard. This is worst case. They want to make an example of him.
                                                                                                                                                                              He has no one to blame but himself. There was no setup.

                                                                                                                                                                                Comment

                                                                                                                                                                                • baddog
                                                                                                                                                                                  So Fucking Banned
                                                                                                                                                                                  • Apr 2001
                                                                                                                                                                                  • 107089
                                                                                                                                                                                  #45
                                                                                                                                                                                  Originally posted by supzdotcom
                                                                                                                                                                                  he MIGHT do a couple of years. big woop. ide trade 20 million for a couple years in the joint
                                                                                                                                                                                  Amazing the inability of some people to read and comprehend. He did not make, steal or save $20 million. He had $20 million in phony business expenses. Big difference.

                                                                                                                                                                                    Comment

                                                                                                                                                                                    • Neighbor
                                                                                                                                                                                      Confirmed User
                                                                                                                                                                                      • Nov 2005
                                                                                                                                                                                      • 1511
                                                                                                                                                                                      #46
                                                                                                                                                                                      At the end of the day he made a business decision....one which will probably save him millions...

                                                                                                                                                                                      The IRS will cut a "payment deal" and out of the $20 million, he will owe about 60% of that, which means he will pay out $12 million, plus a few minor fines, and wind up walking away with +$7 million....

                                                                                                                                                                                      Remember, although the IRS is government, it is still a business too.

                                                                                                                                                                                        Comment

                                                                                                                                                                                        • Quick Buck
                                                                                                                                                                                          Confirmed User
                                                                                                                                                                                          • Feb 2006
                                                                                                                                                                                          • 1026
                                                                                                                                                                                          #47
                                                                                                                                                                                          how does the government figure this shit out? I could barely keep up with all th e fake companies and transfers and offshore properties.
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                                                                                                                                                                                            • Quick Buck
                                                                                                                                                                                              Confirmed User
                                                                                                                                                                                              • Feb 2006
                                                                                                                                                                                              • 1026
                                                                                                                                                                                              #48
                                                                                                                                                                                              Originally posted by adult_webmaster
                                                                                                                                                                                              Remember, although the IRS is government, it is still a business too.

                                                                                                                                                                                              The IRS didn't file this suit (as they normally do).. this was filed by the DOJ and the timing is awfully coincidental.
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