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Boy band creator sentenced to 25 years in prison |
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Written by CASA NewsLink
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Wednesday, 21 May 2008 |
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ORLANDO, Fla. - 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.
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.
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