the man who created the Backstreet Boys and 'N Sync, sentenced to 25 years
biggaman121 said
09:49 05/22 2008
ORLANDO, Florida (AP) -- Lou Pearlman, the man who created the Backstreet Boys and 'N Sync, was sentenced Wednesday to 25 years in federal prison for engineering a decades-long scam that bilked thousands of investors out of their life savings.
Lou Pealman was the boy band king, then fleeced investors of some $300 million.
It was the maximum sentence the boy band mogul could receive for allegedly swindling some $300 million from investors and banks since the early 1980s.
He pleaded guilty in March to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court.
U.S. District Judge G. Kendall Sharp noted that many victims were Pearlman's relatives, friends and retirees in their 70s or 80s who lost everything.
christchung said
10:24 05/22 2008
mi tell yu, cash plus incestors fi tek dis as a example
STUWY77 said
10:26 05/22 2008
a wonder if is carlos hill fren?
Keneilb said
13:43 05/22 2008
lol
Scoota said
01:22 05/23 2008
lol
fyahhh said
01:25 05/23 2008
25 yrs..... not worth if u cant spend it
vybz10107 said
07:43 05/23 2008
lol
Jamdon_1 said
07:54 05/23 2008
dis man yah a teef long time, him teef dem yute dem money big time
Crazypickney said
21:34 05/23 2008
lol @ stuwy.
he did the crime, admitted it, now he gotta pay the time. Guess him still have a lot of money left when him come out so he probably not worried
ORLANDO, Florida (AP) -- Lou Pearlman, the man who created the Backstreet Boys and 'N Sync, was sentenced Wednesday to 25 years in federal prison for engineering a decades-long scam that bilked thousands of investors out of their life savings.
Lou Pealman was the boy band king, then fleeced investors of some $300 million.
It was the maximum sentence the boy band mogul could receive for allegedly swindling some $300 million from investors and banks since the early 1980s.
He pleaded guilty in March to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court.
U.S. District Judge G. Kendall Sharp noted that many victims were Pearlman's relatives, friends and retirees in their 70s or 80s who lost everything.