Jailed boy-band svengali Lou Pearlman has a malfunctioning lightbulb hanging from the end of his long tunnel of incarceration and repaying the people he swindled millions from: He’s turning informant! More »
Jailed boy-band svengali Lou Pearlman has a malfunctioning lightbulb hanging from the end of his long tunnel of incarceration and repaying the people he swindled millions from: He’s turning informant! More »
Former boy-band svengali/current guest of the federal pokey Lou Pearlman has been ordered to repay some $300 million to the investors who he bilked over years of real-estate fraud and Ponzi-like scheming. How did Pearlman amass these ill-gotten gains? Glad you asked! “The FBI and FDIC determined Pearlman took $195 million from more than 1,000 people in an alleged savings program promising 6 percent to 10 percent returns, and $126.7 million in bogus loans from federally insured banks. Another $70 million was invested by people who thought they were buying shares in companies owned by Pearlman that mostly had no assets. About $95 million was returned to investors over the years, documents show.” Well, you’d think that he’d at least be given some points for trying, there. Instead, he may have to pay back even more money!
Former boy-band impresario/pervy Ponzi scheme masterminder Lou Pearlman has been sentenced to 25 years in prison for fleecing investors and banks out of $300 million over the course of 20 years, with the judge at his sentencing waving a book filled with letters from “his family, his close friends and people in their 70s and 80s who have lost their life savings” who wanted to see Pearlman serve hard time. Pearlman tried to delay his sentencing so he could get back on his feet–and out of bankruptcy–via profits from his latest boy band, the German/English/American US5, and their inevitable conquering of the American market. However, the judge was apparently familiar enough with the music industry’s recent woes to realize that Pearlman was trying to pull yet another fast one with that little bit of posturing. The Timberlakes-in-training that the world will be missing out on, after the jump.
Deposed boy-band king Lou Pearlman will enter a guilty plea in response to federal charges of bank fraud. More »
Pervy boy-band impresario Lou Pearlman, whose trial on federal bank fraud charges is set for April, has told friends that he’s thinking about copping a plea on those charges that would result in him going to the federal pen for up to 25 years. But that doesn’t mean he’ll be free from jail after that; charges related to the huge investment scheme that he ran through his company Trans Continental Airlines have yet to be filed, and that’ll probably add to his sentence if he’s found guilty. What’s more interesting: The “friend” who told the St. Petersburg Times this little bit of news is now reselling Pearlman’s possessions–which he bought at Pearlman’s two bankruptcy auctions–on eBay, under the username a-v sales. Among the items on offer are an actual MTV Moonman (bidding currently at $560); other highlights–including an award bestowed upon Pearlman by Mikhail Gorbachev–after the jump.
Pervy, Ponzi-scheming boy band svengali Lou Pearlman had enough to worry about with that pesky trial for fraud before Vanity Fair implicated him as “a habitual sexual predator — harassing, abusing or worse — the teenage boys in his charge.” One of the most well-known among Pearlman’s alleged victims was the Backstreet Boys’ Nick Carter, and in an interview with MTV, Carter and the BSB’s freely admit that Pearlman is a giant knob when it comes to managing bands, while continuing to dance arond the most serious allegations leveled at him.
Jailed boy-band maestro Lou Pearlman is speaking out about Vanity Fair‘s allegations that he was interested in his charges for reasons other than their voices. In a from-the-slammer chat with Radar, Pearlman said that he had “a normal friendship with no inappropriate activity” with all of his artists, that he didn’t give his boys aura-strengthening massages, and that the accusations that he wrestled kids while wearing only a towel are, in fact, physically impossible:
In case you didn’t get squicked out enough by the revelations that Lou Pearlman liked his boy-band charges for reasons that had little to do with their voices reprinted by Page Six earlier this week, Vanity Fair has put its entire profile of the former impresario online. More »
In case you didn’t get squicked out enough by the revelations that Lou Pearlman liked his boy-band charges for reasons that had little to do with their voices reprinted by Page Six earlier this week, Vanity Fair has put its entire profile of the former impresario online. More »
