The man behind N’Sync and the Backstreet Boys, Lou Pearlman has died in a Miami prison after serving a 25 year sentence for an elaborate Ponzi scheme.
Pearlman who was 62 died in a low security Federal Institution, but there is no word on how the mogul died. The boy band mogul was sentenced to 25 years in prison in May 2008 after swindling investors and banks out of more than $300 million. Pearlman had led a luxurious life until his decades-long Ponzi scheme collapsed.
In July 2013, a court approved a $10 million disbursement to the victims he swindled, one victim who lost $260k only got back $9,000… There was also word that he was a pedo…. That he sexually abused some of the boy bands he managed… They say he had his favorites…
Rich Cronin of LFO who passed away back in 2010 did an infamous interview with Howard Stern spilling all of Lou’s Tea!