Steve Wynn wins nearly $50 million from Joe Francis
Steve Wynn wins nearly $50 million from Joe Francis
Joe Francis, Steve Wynn (photo: LA Times)
Billionaire Casino Mogul Steve Wynn wins nearly $50 million from Joe Francis in their years long on going numerous court battles.
In case you’re keeping track,Steve Wynn’s record thus far is 3 and 0 against the Girls Gone Wild founder, Joe Francis.
Back in 2007 Joe Francis ran up over $2 million dollar in casino debt only paying back a small portion of his casino markers and defaulting on the rest.
Joe Francis loses more than just his shirt in his latest legal battle (Photo credit: Wikipedia)
For a man with a fortune worth a reported $160 million dollar fortune, he now stands to lose 20% of that due to Francis not paying off his casino debt.
The duo has been in and out of court several times with Steve Wynn being awarded $7.5 million earlier in the year; $5 million in for damaging Steve Wynn’s reputation and he was ordered to pay another $2.5 million for punitive damages.
This week has even been worse for the porn producer.
After what the court has now ruled as being intentional false statements saying that Steve Wynn threatened his life over his failure to pay off his casino debt, Francis has lost yet again and was penalized heavily by the court.
Francis has been ordered to pay the Steve Wynn $20 million in compensatory damages and a matching $20 million in punitive damages making this an expensive week for the Girls Gone Wild founder
Adding the $40 million to the previous $7.5 million judgement, Joe Francis now faces losing approximately 30% of his total fortune.
Francis is no stranger to legal troubles ranging from allegations of rape, attacking a journalist and putting minors in his Girls Gone Wild films that he allegedly knew were underage and he also served time for tax evasion.
Still, Francis says he will fight on and still has civil case pending in California accusing Wynn of maliciously reporting their dispute to the local prosecutor’s office.
Steve Wynn wins nearly $50 million from Joe Francis and has said that he will donate the sum , less any attorney fees.
For the casino mogul, it was more about protecting his reputation than about the money.
The billionaire casino mogul is certainly not hurting for any cash, even in this economy.
He is known for his ongoing generosity, particularly to the long suffering Las Vegas community, regularly donating large sums of money in the past,.
Many times these generous ads are carried our anonymously.
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