Lou Pearlman, the Florida businessman who gave us such esteemed artistic paragons as N*Sync and The Backstreet Boys has been sentenced to 25 years by a federal judge for swindling investors out of some $300 million. (In March he pleaded guilty to presenting a false claim in bankruptcy court, as well as two counts of conspiracy and a single count of money laundering.)
It seems Pearlman—who is a cousin of Art Garfunkel—for decades ripped off banks and senior citizens, many of the latter friends and relatives who invested in his business ventures. But "Big Poppa", as his boy band charges once lovingly referred to him before falling out with him over financial matters, may have a month of his sentenced reduced for every $1 million he returns to investors. However, defense attorney Fletcher Peacock has stated "there's no pot of gold out there."
