"Girls Gone Wild" founder Joe Francis has put his soft-porn empire into bankruptcy protection, the Wall Street Journal is reporting.
Francis filed for bankruptcy to protect his empire's assets from casino mogul Steve Wynn, who won a $20 million defamation suit against Francis.
The "Girls Gone Wild" founder also owes Wynn a $2 million gambling debt and $7.5 million from a separate defamation suit, according to the Journal.
By filing for bankruptcy, Francis can stop Wynn from suing to go after his assets. Instead, Wynn will have to go through a bankruptcy court to try to get his cash.
Wynn's lawyers have accused Francis of avoiding his collection efforts and pretending to have no cash while living a "lavish lifestyle," according to the Journal.
Francis' "Girls Gone Wild" empire, which features footage of young college women, has had separate trouble over allegedly airing footage of an underage girl.
SEE ALSO: 'Girls Gone Wild' Is In Trouble Over Alleged Footage Of A 14-Year-Old
Please follow Law & Order on Twitter and Facebook.
Join the conversation about this story »
