Description :

Lou Pearlman

Lou Pearlman is the founder of the famous ‘Trans Continental Records’ which is responsible for the introduction of the boy band ‘Backstreet boys’. He is also a fraudster infamous for his money laundering and Ponzi scheme. Lou Pearlman being a money motive from his early days aspired to make millions easily; and to achieve his ambitions he took the path of airship at first where he met consecutive losses, but that didn’t tire him. While being amused by seeing a boy band record sold for $60 millions, Pearlman took the path of a records producer and made millions while leaving nothing to the hard working boys of the bands who later sued him for his money laundering.

He later lead a photo mill scam in the name of talent hunt and was sued again which made the investigators to dug deep into his assets. The investigation exposed a Ponzi scheme of Pearlman about the paper companies that led various individuals to invest in his company and swindled a billion. He was convicted in the year 2007 and was sentenced to 25 years in prison.