'Girls Gone Wild' Founder Sues BDO Seidman Over Tax Shelters

Law360, New York (October 16, 2012, 3:05 PM EDT) -- Pornographer Joseph R. Francis on Monday went after BDO Seidman LLP in California state court, saying the accounting firm sold him on fraudulent tax shelter products for which the Internal Revenue Service later assessed him back taxes and penalties of $13 million.

The entrepreneur behind the “Girls Gone Wild” line of pornographic home videos alleges BDO induced him to invest in tax shelter products that purported to offer relief from the IRS' normal cut, but that these “schemes” ultimately failed to escape the tax regulator's scrutiny....
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