Joe Francis, an American entrepreneur and film producer best known for producing the Girls Gone Wild series, has filed a lawsuit against his accounting firm, alleging that the company involved him in bogus tax shelters.
After the Internal Revenue Service discovered Francis’ use of these tax shelters, it cost him more than $12 million, according to celebrity news website TMZ.
Francis’ lawsuit against BDO Seldman alleges that the company admitted to criminal conduct in the use of the tax shelters and agreed to pay $50 million in fines. According to TMZ, the accounting firm told Francis that the tax shelters it was using were in compliance with federal law.
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