The Daily News reports that Joe Francis, the founder of the soft porn juggernaut known as Girls Gone Wild, entered into a plea bargain that may allow him to avoid additional jail time:
“Girls Gone Wild” founder Joe Francis avoided further jail time by pleading guilty yesterday to filing false tax returns.
In the agreement, Francis acknowledged omitting nearly $563,000 in interest income on his 2003 tax return.
Francis was indicted by a federal grand jury on tax evasion charges in 2007 and has spent 301 days in jail. He will receive a year of supervised release.
The plea agreement states Francis will pay $250,000 in restitution and receive credit for jail time served.
Jack Townsend of Federal Tax Crimes has more.
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