Former Boy Band Mogul Gets 25 Years, But There's A Catch
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Artist:
The man that brought the world Backstreet Boys and NSYNC is going to jail for 25 years....and not for bringing the world the Backstreet Boys and NSYNC. Lou Pearlman, often painted by his former clients as a monster, has been sentenced to 25 years in prison by a Florida judge.
Pearlman was charged with two counts of conspiracy, money laundering and using false statements. He pleaded guilty in March to laundering banks out of $120, and another $315 million from some 1,000 investors.However there is a twist! For every million Pearlman returns to the 1,000 investors he stole from, his jail sentence will be reduced by a month!I don't know how I feel about that...people screw with taxes and go to prison for a long time. Pearlman should serve his time. Pearlman might not have screwed with the IRS, but he did steal money from people. Why should he get off the hook for that?
Pearlman was charged with two counts of conspiracy, money laundering and using false statements. He pleaded guilty in March to laundering banks out of $120, and another $315 million from some 1,000 investors.However there is a twist! For every million Pearlman returns to the 1,000 investors he stole from, his jail sentence will be reduced by a month!I don't know how I feel about that...people screw with taxes and go to prison for a long time. Pearlman should serve his time. Pearlman might not have screwed with the IRS, but he did steal money from people. Why should he get off the hook for that?
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