The owner of two Detroit-area strip clubs has been charged with cheating on his federal income taxes.
The indictment, unsealed Friday, said Nicholas Faranso, 51 -- who owns BT's Executive Club in Dearborn and Tycoon's Gentlemen's Entertainment in Detroit -- said, among other things, that he underreported corporate receipts by $539,384 and his personal income by $574,939 for calendar year 2003.
He is accused of conspiring to defraud the IRS and three counts of filing a false tax return. The conspiracy count, the most serious, carries a maximum penalty of five years in prison and a $250,000 fine.
"I'll have my day in court and will prove my innocence," Faranso said, adding that he relied on others to handle the day-to-day business operations.
Wouldn't be the first time the feds ran a strip club. There is a special task force set up in the IRS to go after adult businesses these days. They are looking under every rock they can to fund this monstrosity we have created.