Sleazy dude Joe Francis had his ass handed to him by the courts in LV and LA. He is on the hook for $20M in slander suits filed by Steve Wynn that he lost. There are punitive damages yet to be computed in the LA suit and it could run up the tab to $30M or more. There ain't enough drunken titties in the world to cover that shit. I relished the fact that this mutant spent time in jail for tax evasion, now he will have less than nothing. Wynn stated he will give everything won in his lawsuits -- after his legal fees -- to charity.

My guess that Francis is a lease everything kind of guy and has no real assets that Wynn can go after. The assets of the GGW empire have some value and maybe Wynn can get that. Joe ran GGW as a Subchapter S corp and that is what got him put in jail with his over-the-top deductions.

There is speculation that Hollywood insider Peter Guber has ownership in GGW through one of his production companies.

LA Times story