April 06, 2000 08:02am
Taxman Seizes 'Porn King's' Mansion
Source: Reuters
(STOCKHOLM) -- A man named Milton who is known as Sweden's porn king lost his personal paradise when a court seized his luxury home for non-payment of tax.
Berth Milton, described by Aftonbladet newspaper as ``the king of porn,'' is chairman and chief executive of Private Media Group Inc, which produces and sells adult magazines, videos and DVDs (digital video discs).
The court bailiff's office said Thursday it had seized Milton's palatial residence on Warmdo Island near Stockholm after a district court ruled that the company that owned and managed it for Milton was liable to Swedish tax.
Tax arrears for 1995 to 1999 amounted to about seven million Swedish crowns ($811,200), and the order means the property can be sold at auction if the court's tax ruling is confirmed.
Private Media Group, the only company of its kind listed on the U.S. Nasdaq exchange, is developing Internet sites and reported a 1999 profit of $3.73 million on revenue of $20.26 million.
($1-8.629 Swedish Crown)
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