Joseph Francis and his Santa Monica-based movie company, the Mantra Films, have reached an agreement with state representatives in the suit filed against them. Both Francis and his company were the object of a long term investigation, that aimed to prove they failed to document the identities of the girls who appeared in the softcore porn and to label their tapes and DVDs according to the federal law.

The millionaire filmmaker has entered the spotlight for his tapes that show girls partying and bearing their breasts for the cameras. Some of the footage also shows sexual content, but it is being filmed only after the protagonists (in most cases, female) sign a legal agreement.

Joe Francis was held in police custody for 43 separate counts and yesterday, both he and representatives from Mantra Films pleaded guilty on the above mentioned two charges. The financial settlement stipulates that the producer is to pay $500,000 out of his own pocket, while the rest of $1.6 million will be paid by Mantra.

A representative from the Justice Department said that, by pleading guilty, the entire 'Girls Gone Wild' franchise will bring its own contribution to the protection of minors and the discouragement of any illegal sexual activities involving them. 'Today's agreement ensures that "Girls Gone Wild" will comply with an important law designed to prevent the sexual exploitation of minors and puts other producers on notice that they must be in compliance as well', the spokesperson added.

But the case is not yet completely closed on the 'Girls Gone Wild' situation. The two guilty parties are to be held on probation for three years from now on, to see if they continue to abide by the law and only when this proves to be true, it will all be over.

Until then, Joseph Francis still has to be held accountable for no less than 43 counts, among which racketeering, prostitution and encouraging minors to indulge in X-rated behaviors. His next court hearing will be scheduled at a later date.