Last week, Jason Itzler, the infamous and self-proclaimed "King of All Pimps," was in court to plead not guilty to charges of selling cocaine, promoting prostitution and laundering money, before his pants fell to his ankles and he shuffled out of court. Yesterday, he told the judge that his arrest was part of a huge conspiracy involving an Achy, Breaky singer and a billionaire mayor, "Billy Ray Cyrus is best friends with Mayor Bloomberg. Bloomberg has a tendency to cover things up."

Apparently Itzler, who once ran a super high-end escort ring called "New York Confidential" and served time in prison for it, was busted for sending an escort to a client at the Trump International Hotel. Itzler, whose new venture is "Rockstar Models & Playgirls," says it was a "non-sexual baby-sitter" companion for Miley Cyrus' dad. Then he claimed he that Cyrus was doing heroin and that he saved the country/Disney star's life.

The Manhattan DA's office paints a different picture, accusing Itzler of sending a prostitute to the client for three days and also selling $4,700 in cocaine. A prosecutor said, "Billy Ray Cyrus has nothing to do with this," which prompted Justice Thomas Farber to say, "He’ll be happy to hear that." A Post source adds that the john only looks like Cyrus, "It's a mistaken identity. There was an incident that was the genesis of this investigation, but Billy Ray Cyrus was not involved -- not even as a sound track."

Itzler's proclamations concerned the judge enough to ask whether Itzler needed a psych exam. Itzler, whose next court date is in October told New York, "They say I’m bipolar but I don’t have any depression, just mania and more mania."