Boy Band Mogul Lou Pearlman Gets 25-Years In Jail

May 21, 2008

The creator of many popular boy band grups such as the Backstreet Boys and 'N Sync, Lou Pearlman, has been sentenced to 25-years in jail for a scam which had him net $300  million from investors and banks.Hollywood (ChattahBox) – The creator of many popular boy band groups such as the Backstreet Boys and ‘N Sync, Lou Pearlman, has been sentenced to 25-years in jail for a scam which had him net $300 million from investors and banks.

The 25-year prison sentence was handed down to Pearlman on Wednesday by U.S. District Judge G. Kendall Sharp. The judge also gave Pearlman the chance to cut down his jail sentence if he helps get all of the money back he managed to swindle away.

Pearlman pleaded guilty to two counts of conspiracy, as well as counts of money laundering and a false claim in a bankruptcy court. Those pleas came back in March.

Victims of Pearlman include relatives, friends, and others who were close to him, as many lost their entire life savings due to his shady dealings

The judge stated he would reduce his sentence by one month for every $1 million he returned to investors.

The defense argued that the 25-year jail sentence was pretty much a life in prison sentence for Pearlman, since he is over 50-years old.

The scam where he netted all of the money continued through the 1990s.


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