Man once dubbed 'Porn's New King' is charged in tribal fraud

AP News
Posted: May 11, 2016 4:30 PM

NEW YORK (AP) — A man once dubbed "Porn's New King" has been charged in New York City with scamming a Native American tribe and others of more than $60 million.

Charges against Jason Galanis (gah-LAH'-nuhs) and six others were announced Wednesday. Galanis was arrested in Los Angeles.

Prosecutors say Galanis and others lied to the Oglala Sioux (ohg-LAH'-luh soo) tribe about how proceeds from its bonds would be invested.

The government alleges that Galanis and the others spent most of the proceeds on homes, cars, travel and jewelry. It says they duped investors into buying the bonds.

Galanis was labeled "Porn's New King" by Forbes magazine when it reported in 2004 that he had bought the nation's largest payment processor for Internet porn.

Defense lawyers did not immediately comment.