Former Boy Band Manager Lou Pearlman Owes $400 Million
Former manager of the Backstreet Boys and ‘N Sync, Lou Pearlman may want to stay in prison because even if he gets out, he’ll have to pay over $400 million which is the money he stole from investors, according to TMZ. Nearly $200 million came from a retirement fund, and over $100 million came from a fake air carrier he created.
Pearlman was sentenced to 25 years in prison after pleading guilty to conspiracy, fraud, and money-laundering charges. Apparently Pearlman’s attorney argued that he shouldn’t have to pay interest on the money he owes back. Karma never fails though.
Photo Source: WENN
