IRS: Joe Francis caught in $20 million corporate tax scheme - GoFuckYourself.com

tony286 · 04-11-2007, 02:33 PM

http://www.thesmokinggun.com/archive...efrancis1.html
man when it rains it pours

NaughtyRob · 04-11-2007, 02:34 PM

Wizzo · 04-11-2007, 02:34 PM

Now that one he should be worried about...

The Real Deal · 04-11-2007, 02:36 PM

Lube up that ass. Thats going to hurt.

xclusive · 04-11-2007, 02:36 PM

ouch, What a fool, Ya don't fuck with the IRS

baddog · 04-11-2007, 02:39 PM

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.

MaDalton · 04-11-2007, 02:40 PM

greed is the source of all evil

Snake Doctor · 04-11-2007, 02:41 PM

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.

XPays · 04-11-2007, 02:42 PM

his attorney is going to be billing him obscenely

hollinator · 04-11-2007, 02:43 PM

Quote:

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

DjSap · 04-11-2007, 02:45 PM

Read through the stuff and it looks pretty solid. If I were him I would be leaving the country.

xclusive · 04-11-2007, 02:46 PM

Quote:

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

Supz · 04-11-2007, 02:48 PM

he MIGHT do a couple of years. big woop. ide trade 20 million for a couple years in the joint

Scootermuze · 04-11-2007, 02:48 PM

Quote:

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..

After Shock Media · 04-11-2007, 02:49 PM

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.

u-Bob · 04-11-2007, 02:50 PM

ouch ...

After Shock Media · 04-11-2007, 02:52 PM

Quote:

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.

DjSap · 04-11-2007, 02:52 PM

Quote:

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.

WiredGuy · 04-11-2007, 02:59 PM

Federal tax audit, ohhhhh baby. Those are fun!
WG

Drake · 04-11-2007, 03:28 PM

The judge that he told off recently is probably smiling right now.

AsianDivaGirlsWebDude · 04-11-2007, 03:32 PM

They got what it takes to take what you got...

Things aren't looking too good for GGW Joe...

ADG Webmaster

Peaches · 04-11-2007, 03:33 PM

Don't forget they finally got Al Capone on income tax evasion.

AsianDivaGirlsWebDude · 04-11-2007, 04:24 PM

Quote:

Originally Posted by Peaches

Don't forget they finally got Al Capone on income tax evasion.

ADG Webmaster

seeric · 04-11-2007, 04:27 PM

i keep tellin people get paid in carrots and broccoli

webair · 04-11-2007, 04:33 PM

Quote:

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"

NinjaSteve · 04-11-2007, 04:33 PM

Whoooooooa! WTF!

JMM · 04-11-2007, 04:56 PM

Quote:

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.

JMM · 04-11-2007, 04:58 PM

Quote:

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.

Barefootsies · 04-11-2007, 05:03 PM

RedShoe · 04-11-2007, 05:42 PM

Quote:

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.

LiveDose · 04-11-2007, 05:45 PM

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.

JP-pornshooter · 04-11-2007, 05:47 PM

Thats my number one rule.. dont cheat on taxes, its too easy to get caught and they will fuckin roast your ass..

Worried · 04-11-2007, 05:50 PM

Quote:

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.

baddog · 04-11-2007, 05:53 PM

Quote:

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.

dynastoned · 04-11-2007, 05:58 PM

number one rule don't fuck with the IRS. they have interrogation rooms just like the FBI believe me i've been there.

Drake · 04-11-2007, 06:10 PM

Quote:

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.

Rochard · 04-11-2007, 06:23 PM

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.

uno · 04-11-2007, 06:32 PM

Quote:

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 · 04-11-2007, 06:41 PM

Quote:

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

LiveDose · 04-11-2007, 06:46 PM

Quote:

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.

RawAlex · 04-11-2007, 06:47 PM

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.

AsianDivaGirlsWebDude · 04-11-2007, 07:14 PM

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...

ADG Webmaster

Scootermuze · 04-11-2007, 07:21 PM

Quote:

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..

baddog · 04-11-2007, 08:30 PM

Quote:

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.

baddog · 04-11-2007, 08:34 PM

Quote:

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.

Neighbor · 04-11-2007, 08:41 PM

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.

Quick Buck · 04-11-2007, 08:47 PM

how does the government figure this shit out? I could barely keep up with all th e fake companies and transfers and offshore properties.

Quick Buck · 04-11-2007, 08:50 PM

Quote:

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.

04-11-2007, 02:33 PM	#1
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	IRS: Joe Francis caught in $20 million corporate tax scheme http://www.thesmokinggun.com/archive...efrancis1.html man when it rains it pours

04-11-2007, 02:34 PM	#2
NaughtyRob Two fresh affiliate progs Industry Role: Join Date: Nov 2004 Location: Inside teen pussy Posts: 29,602	__________________ [email protected] Skype: 17026955414 Vacares Web Hosting - Protect Your Ass with Included Daily Backups

04-11-2007, 02:34 PM	#3
Wizzo 2011 GFY Hall of Fame! Industry Role: Join Date: Nov 2000 Location: Back in Texas! Posts: 15,224	Now that one he should be worried about... __________________ Looking for Opportunity!

04-11-2007, 02:36 PM	#5
xclusive Too lazy to set a custom title Join Date: Apr 2004 Location: Buffalo, NY Posts: 35,218	ouch, What a fool, Ya don't fuck with the IRS __________________ I support MediumPimpin.com / Shemp's Outlawtgp.com /

04-11-2007, 02:40 PM	#7
MaDalton I am Amazing Content! Industry Role: Join Date: Feb 2004 Posts: 39,828	greed is the source of all evil __________________ AmazingContent.com - providing only the best content and service since 2003 Monetize your content on Veegaz.com - one of Germanies largest VOD sites Got German traffic? We convert it into money for you! Skype: madalton02826 - Email: oltecconsult [at] gmail [dot] com

04-11-2007, 02:36 PM	#4
The Real Deal Confirmed User Join Date: Apr 2005 Posts: 570	Lube up that ass. Thats going to hurt.

04-11-2007, 02:39 PM	#6
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	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.

04-11-2007, 02:41 PM	#8
Snake Doctor I'm Lenny2 Bitch Join Date: Mar 2001 Location: On top of my soapbox Posts: 13,449	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

04-11-2007, 02:42 PM	#9
XPays Team Player Join Date: May 2004 Location: Inside the most accurately counting and reporting affiliate system in the world at XPays.com Posts: 13,002	his attorney is going to be billing him obscenely __________________ InterNext Expo Domain Auction Live Now thru Feb 5 HuntingMoon GFY Domains Marketplace is LIVE XPays always pays! Top Site: * RealJasmine.com * + HotelHeiress® with The Paris Hilton Sex Video Insert the HotelHeiress® HD FEED into your members areas XPin.com Opening for Pin Partners Soonish Mainstream Offers For Emailers and DomainersNONADULT.COM Like Us!

04-11-2007, 02:45 PM	#11
DjSap Confirmed User Join Date: Jul 2002 Posts: 3,869	Read through the stuff and it looks pretty solid. If I were him I would be leaving the country. __________________ Blog Themes, TGP Design, Writing Services, Grunt Work ICQ: 66871495

04-11-2007, 02:48 PM	#13
Supz Arthur Flegenheimer Industry Role: Join Date: Jul 2006 Location: New York City Posts: 11,056	he MIGHT do a couple of years. big woop. ide trade 20 million for a couple years in the joint

04-11-2007, 02:49 PM	#15
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	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]

04-11-2007, 02:50 PM	#16
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	ouch ...

04-11-2007, 02:59 PM	#19
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,481	Federal tax audit, ohhhhh baby. Those are fun! WG __________________ I play with Google.

04-11-2007, 03:28 PM	#20
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	The judge that he told off recently is probably smiling right now.

04-11-2007, 03:32 PM	#21
AsianDivaGirlsWebDude Purveyor, Fine Asian Porn Industry Role: Join Date: Jul 2004 Location: San Francisco Bay Area Posts: 38,323	They got what it takes to take what you got... Things aren't looking too good for GGW Joe... ADG Webmaster __________________ Asian Diva Girls - Exclusive Photos and Videos Asian Diva Girls Affiliate Program (50% ccBill Revshare)

04-11-2007, 03:33 PM	#22
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	Don't forget they finally got Al Capone on income tax evasion.

04-11-2007, 04:27 PM	#24
seeric .......... Industry Role: Join Date: Aug 2004 Location: .......... Posts: 41,917	i keep tellin people get paid in carrots and broccoli

04-11-2007, 04:33 PM	#26
NinjaSteve Too lazy to set a custom title Industry Role: Join Date: Dec 2003 Posts: 11,089	Whoooooooa! WTF! __________________ ...

04-11-2007, 05:03 PM	#29
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	__________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

04-11-2007, 05:45 PM	#31
LiveDose Show Yer Tits! Industry Role: Join Date: Feb 2002 Location: Somewhere Out there... Posts: 25,792	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

04-11-2007, 05:47 PM	#32
JP-pornshooter Confirmed User Join Date: Sep 2006 Location: westcoast usa Posts: 4,007	Thats my number one rule.. dont cheat on taxes, its too easy to get caught and they will fuckin roast your ass..

04-11-2007, 05:58 PM	#35
dynastoned mmm yeah! Industry Role: Join Date: Feb 2005 Location: roseville, ca Posts: 5,061	number one rule don't fuck with the IRS. they have interrogation rooms just like the FBI believe me i've been there.

04-11-2007, 06:23 PM	#37
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,984	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. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

04-11-2007, 06:47 PM	#41
RawAlex So Fucking Banned Join Date: Oct 2003 Location: In a house. Posts: 9,465	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.

04-11-2007, 07:14 PM	#42
AsianDivaGirlsWebDude Purveyor, Fine Asian Porn Industry Role: Join Date: Jul 2004 Location: San Francisco Bay Area Posts: 38,323	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... ADG Webmaster __________________ Asian Diva Girls - Exclusive Photos and Videos Asian Diva Girls Affiliate Program (50% ccBill Revshare)

04-11-2007, 08:41 PM	#46
Neighbor Confirmed User Join Date: Nov 2005 Posts: 1,511	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.

04-11-2007, 08:47 PM	#47
Quick Buck Confirmed User Join Date: Feb 2006 Location: Free-Trials.......... Weekly-Payouts..... 100+Sites Posts: 1,026	how does the government figure this shit out? I could barely keep up with all th e fake companies and transfers and offshore properties. __________________ $50 FREE TRIALS! Every Day til 2008!!! Only at QuickBuck