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Joe Francis --

Indicted Over Alleged

$2M Gambling Debt

2/2/2011 5:15 PM PST BY TMZ STAFF

A grand jury has officially indicted "Girls Gone Wild" honcho Joe Francis over the $2 million he allegedly owes in gambling debts to casino mogul Steve Wynn -- charging him with felony theft and fraud.

0202_francis
Wynn sued Francis over the debt back in 2009 and won ... but Francis has continued to refuse to pay up, claiming Wynn owed him a discount on his losses -- and now it's become a criminal matter.

According to the documents filed today in Las Vegas, Francis took out $2.5 million in markers with Wynn Casino in exchange for gaming chips nearly four years ago -- but there was one big problem ... the casino claims he didn't have the cash in his bank account to back it up ... and they never got the funds.

Francis has since only paid off $500,000 of the debt.

Now, a Vegas grand jury has ordered Francis to stand trial against the 2 criminal charges. If convicted, he faces up to four years in prison.

Francis tells us, "I'm 100% confident that I will prevail, just like I always do. Steve Wynn has enormous influence over the politicians in the Las Vegas area ... so I'm sure he's behind this."

Francis adds, "The moral of the story is don't gamble at the Wynn casinos or this could happen to you."

46 COMMENTS

No Avatar
31.

ManiacalZebra    

The moral of the story is: Pay your debts.

1328 days ago
32.

MeToo    

This makes me want to gamble at the Wynn, knowing that douchebag won't go there.

1328 days ago
33.

dgn4369    

Pay your debt you fricken dumbass. You took out the marker, you lost, time to pay it. There is no dicounts! LOL, just because you to a have some level of noteriety you think you should get a pass? JOE! Seriously! Do you think Wynn gives a rats ass about your dumb ass Girls Gone Wild?! I guarantee that Wynn really wants to nothing to do with your sleazy lifestyle in his nice high-roller hotel. Just pay it!

1328 days ago
34.

Cartman    

Discounts are not unusual for high rollers but it's never an 80% discount.

I still hope they put him in OJ's cell.

1328 days ago
35.

AS    

$500,000? $2.5 Million? Insane and vulgar come to mind. I know this was Las Vegas but...Steve Wynn, are you kidding me? Wasn't Joe Francis just out of jail or just going to jail at that time and you still gave him credit? Sure Francis is at fault for not repaying his debt but I think there should be a "stupid" law that applies here as well.

1328 days ago
36.

Robert    

Gee, a guy that exploits young drunk girls on vacation fails to bay a debt? Shocker.

1328 days ago
37.

noneofyourbusiness    

F^ck this douche bag pervert.

1328 days ago
38.

patricia bast    

HE'S BEST FRIENDS WITH THE KARDASHIANS!!!! THAT SHOULD EXPLAIN IT ALL!!! DOUCHBAGS!!!

1328 days ago
39.

patricia lewis    

HE'S BEST FRIENDS WITH THE KARDASHIANS!!! THAT SHOULD EXPLAIN EVERYTHING!!!

1328 days ago
40.

CarolynAB    

In the Bronx, there is a sitting judge who got into trouble gambling and allegedly had loansharks after him. He "borrowed" some $500,000 from a female friend to settle the gambling debt, and then failed to pay back his friend.
He continues to work as a judge, and he is only facing civil charges, NOT criminal charges.
Begs the question: Does Steve Wynn have undue influence over the legal process in Nevada? Why is a grand jury investigating a gambling debt? How come this case is not a civil matter?

1328 days ago
41.

John    

#42 simple.... to borrow money from a person is a civil matter... now if he wrote her a bad check for 500k then its a criminal matter but he is a judge and knows better...

so by the law he is only guilty of being a pig...

now Steve wrote a check to cover his credit and when it was cashed it was bad which in Nevada is a crime...

1328 days ago
42.

c    

No, the moral of the story is not to be a complete douche and steal money from people. I hope Wynn uses every connection he has and that Francis ends up in the slammer for two years. It would be a public service. And, no, Francis, it could NOT happen to me if I gamble at the Wynn because I'm not a thief, a complete low-life, and a sorry excuse for a human being like YOU are.

1328 days ago
43.

cyringe    

did he say the moral of it is" DON'T GAMBLE AT WYNN"? sounds like what a real crook would say......................how about having the moral of the story as "don't spend more than you have" who are you trying to impress and "don't write a bad check" fool.

1328 days ago
44.

Nostradamus    

Cartman is right, whales do get debt discounts but it's usually less than 20%.

1328 days ago
45.

Lisa    

Riiiight, you entitled jerk. Don't gamble at Wynn.... or maybe the moral of the story is... PAY YOUR BILLS!

Some rich honchos should offer to pay $100 toward his debt every time he gets drunk and exposes himself of YouTube. After all, there's nothing wrong with it, right Joe?

He's an exploitative, disgusting jerk. I hope he goes to jail and the father of one of the girls he takes advantage of is in the cell with him.

1328 days ago
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