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Thread: The $317M Music Man

  1. #1

    Default The $317M Music Man

    A world out of sync
    Mogul Lou Pearlman -- wherever he is --
    watches his carefully crafted empire fall apart.


    Scott Powers and Sara K. Clarke
    Sentinel Staff Writers

    April 10, 2007

    Sitting among glitterati such as Pierce Brosnan, Lionel Richie and Nicolas Cage, a stone-faced Lou Pearlman watched his latest and possibly last moment of triumph play out in a recent German awards show.

    His boy band US5 bounded across the stage of a Berlin theater to receive the Goldene Kamera "Pop International Band" award. Singer Jay Kahn interrupted his German-language acceptance speech to declare, "Lou Pearlman, we love you baby!"

    It was a shining moment of fame -- the kind his friends say he has chased his entire life. Yet in the seconds that German TV recorded him -- at least as the shots were replayed on the Web site YouTube -- Pearlman didn't even smile.

    The night was Feb. 1. A day later, an Orlando judge ordered the seizure of his corporate flagship. Within weeks, the FBI swarmed his Lake Butler mansion and downtown Orlando offices. His career of blimps, charter planes, real estate and pop music was buried under staggering lawsuit claims and criminal probes.

    Not long ago, Louis J. Pearlman, 52, was a sought-after Orlando celebrity, known for acts ranging from the Chippendales to the Backstreet Boys.

    Now investigators allege the entertainment mogul ran an investment scam on the side that drained the life savings from hundreds of people, taking in more than $317 million. A federal grand jury has convened, though no indictments have been announced.

    ...more - http://www.orlandosentinel.com/busin...tory?track=rss
    Last edited by zengrifter; April 15th, 2007 at 03:09 PM.

  2. #2

    Default



    Pearlman Back in Orlando to Face Charges

    Boy Band Mogul Lou Pearlman Has Arrived Back
    in Florida to Face Bank Fraud Charges



    Lou Pearlman, right, is escorted to an awaiting van in Yigo, Guam, Friday,
    June 15, 2007. Pearlman, who had been in hiding for several months, was
    found in Indonesia and expelled from the country Thursday. He was handed
    over to the FBI, who took him to the U.S. territory of Guam to appear before
    a federal judge on a bank fraud charge. Pearlman was held over Friday for
    another hearing next week.


    The Associated Press


    ORLANDO, Fla.

    The creator of the Backstreet Boys and 'N Sync is back in Florida to face charges of defrauding a bank out of $20 million.

    Lou Pearlman, 53, was escorted by federal marshals from Los Angeles to Orlando on Tuesday. He was being held in Orange County jail and was scheduled to have his first appearance before a judge Wednesday afternoon, Deputy U.S. Marshal Jimmy Disbrow said.

    Pearlman was polite during the cross-country trip, joked about Florida's sweltering heat and told authorities he didn't want to talk to the media, Disbrow said.

    Disbrow said he believed Pearlman was being represented by a public defender. A telephone message left for the public defender's office by The Associated Press wasn't immediately returned Tuesday night.

    Pearlman has been globe-trotting, though not in luxury, since his arrest in Indonesia last month. He was expelled from Bali after the FBI contacted authorities there, then transferred to U.S. custody and flown to Guam, and later to Los Angeles.

    ...more - http://www.abcnews.go.com/Entertainm...ory?id=3366035
    "The dogs bark but the caravan moves on."
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  3. #3
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    Default a public defender

    for perlman - I would rather doubt it ! Where did all the money go he made ? Legitimate money that is ? Where did all the money he scammed go ? Where did all the money go that he ripped people off for ? It is amazing how never is enough for some people - and I gues the greed factor always wins out and gets you put in jail big time . Why be greedy ? There is enough to go around if you play the game straight in my opinion .

  4. #4

    Default

    VANITY FAIR

    Mad About the Boys

    Until he fled the country in January, accused of embezzling more than $300 million, Lou Pearlman was famous as the impresario behind the Backstreet Boys and 'NSync. Turns out his investors weren't the only victims, colleagues reveal: Pearlman's passion for boy bands was also a passion for boys.



    by Bryan Burrough November 2007

    EXCERPT-------------------------
    Most of those milling about Pearlman's offices had scant idea what he had done wrong, much less where he had fled to. Some said Israel, or Germany, or Ireland, or Belarus. He had left the country last January, just days before the state sued him, alleging that he had bilked nearly 2,000 investors, many of them elderly Florida retirees, out of more than $317 million in a Ponzi scheme lasting at least 15 years. A dozen banks also sued for more than $130 million in back loans. Later the indictment would come. Big Poppa, it turned out, had been an accomplished swindler long before he formed his first band. His were scams of jaw-dropping audacity. Pearlman's largest company, a colossus he boasted was bringing in $80 million a year, was … well, not. For years his investors, starry-eyed after rubbing elbows with 'NSync and the Backstreet Boys, never questioned his promises of forthcoming riches. When they finally did, he fought back with lawsuits, forged documents, and fictitious financial statements. When the truth began to come out, he ran.

    That much any reader of the Florida newspapers might know. What no one knows, however, is that Pearlman's sins appear to have been far more sordid than conning kindly grandmothers. What no one knows, because it is described here for the first time, is that while the King of the Boy Bands was smitten with the music industry and the millions he made there, while he adored his gold records and his television appearances, what Lou Pearlman loved at least as much were the attentions of attractive young male singers.

    Some, especially the teenagers, shrugged and giggled when he showed them pornographic movies or jumped naked onto their beds in the morning to wrestle and play. Others, it appears, didn't get off so easily. These were the young singers seen emerging from his bedroom late at night, buttoning their pants, sheepish looks on their faces. Some deny anything improper ever happened. But the parents of at least one, a member of the Backstreet Boys, complained. And for any number of young men who sought to join the world's greatest boy bands, Big Poppa's attentions were an open secret, the price some paid for fame.

    "Some guys joked about it; I remember [one singer] asking me, 'Have you let Lou blow you yet?'" says Steve Mooney, an aspiring singer who served as Pearlman's assistant and lived in his home for two years. "I would absolutely say the guy was a sexual predator. All the talent knew what Lou's game was. If they say no, they're lying to you."
    ------------------------
    MORE- http://www.vanityfair.com/fame/featu...urrentPage=all
    "The dogs bark but the caravan moves on."
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  5. #5
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    Default

    Wow. Music Producers forcing themselves on young stars or starlets. I'm shocked. Nick Carter was over 18 when he chose to stay at the Perlman mansion. If the others were over 18,how is this any different than what Hefner,Guiccione or Mottola have been doing for decades?
    Perlman is a fat,effaminate male.Its strange how no one questioned his proclivities while the money was flowing in.
    Only those who will risk going too far can possibly find out just how far one can go.


    We cannot direct the wind, we can only adjust our sails.

  6. #6

    Default

    Quote Originally Posted by shadroch View Post
    Wow. Music Producers forcing themselves on young stars or starlets. I'm shocked. Nick Carter was over 18 when he chose to stay at the Perlman mansion. If the others were over 18,how is this any different than what Hefner,Guiccione or Mottola have been doing for decades?
    Perlman is a fat,effaminate male.Its strange how no one questioned his proclivities while the money was flowing in.
    He's a republican, you know. zg
    "The dogs bark but the caravan moves on."
    .....................The Zengrifter Interview (PDF) |
    The Zengrifter / James Grosjean Reputation Debate
    -----------------------------------------
    “Truth, like gold, is obtained not by growth, but by washing away all that is not gold.” — Leo Tolstoy........
    "Is everything a conspiracy? No, just the important stuff." ZG

  7. #7
    Join Date
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    Default Big Bubba is

    already waiting for Perlman and i hear they got a guest of honor party waiting for him - and he is the guest of honor and the party . His a** will be so wide when he comes out he will need 3xxxx depends .

  8. #8

    Default

    Quote Originally Posted by glovesetc View Post
    already waiting for Perlman and i hear they got a guest of honor party waiting for him - and he is the guest of honor and the party . His a** will be so wide when he comes out he will need 3xxxx depends .
    So you are saying he's going to enjoy himself? zg
    "The dogs bark but the caravan moves on."
    .....................The Zengrifter Interview (PDF) |
    The Zengrifter / James Grosjean Reputation Debate
    -----------------------------------------
    “Truth, like gold, is obtained not by growth, but by washing away all that is not gold.” — Leo Tolstoy........
    "Is everything a conspiracy? No, just the important stuff." ZG

  9. #9
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    Default Not sure

    Bubba and his buddies are so gentle that he will enjoy it but he sure will get alot more inside then outside . Maybe more then he bargained for - lol

  10. #10

    Default

    US music mogul admits $300m fraud

    Photograph: John Raoux/AP

    Pop music mogul Lou "Big Poppa" Pearlman stood before a judge in Orlando, Florida yesterday and admitted that he had indeed defrauded thousands of people – and 10 or so banks - out of hundreds of millions of dollars over about 20 years.

    As part of his highly sophisticated scam, Pearlman created his own accounting firm, independent auditors and even a German bank to fool investors. When Judge Sharp asked if the Cohen & Siegel accounting firm was merely a figment of his imagination, Pearlman replied: "myself and some other people."

    MORE- http://www.guardian.co.uk/business/2...seconomy/print
    "The dogs bark but the caravan moves on."
    .....................The Zengrifter Interview (PDF) |
    The Zengrifter / James Grosjean Reputation Debate
    -----------------------------------------
    “Truth, like gold, is obtained not by growth, but by washing away all that is not gold.” — Leo Tolstoy........
    "Is everything a conspiracy? No, just the important stuff." ZG

  11. #11

    Default

    Boy band creator gets 25 years in prison
    'N Sync, Backstreet Boys founder Pearlman sentenced for investment scam

    updated 11:14 a.m. ET May 21, 2008

    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.

    more - http://www.msnbc.msn.com/id/24756819/

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