December 13, , PM. In this article:. More content below. Lou Pearlman. Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting. Recommended Stories. The Wrap. Roll Tide Wire. Business Insider. NBC Sports. NBC Sports Boston. Fighting Irish Wire. At the time of Pearlman's death, Bass shared his mixed emotions, tweeting, "Word is that LouPearlman has passed away.
He might not have been a stand up businessman, but I wouldn't be doing what I love today without his influence. RIP Lou. Pearlman, Art Garfunkel's cousin, founded Trans Continental Records in the s, first signing the Backstreet Boys , who would turn into the best-selling boy band in history.
Pearlman is credited with launching the s frenzy over boy bands. But for years, Pearlman used falsified documents and statements to convince investors to put money into Trans Continental Airlines Services Inc.
He had made up an accounting firm. He'd made up a bank. And no one had ever caught him. Can't I just talk my way out of it? It just wasn't meant to be. Pearlman pleaded guilty to conspiracy to commit bank fraud, money laundering, bankruptcy and fraud in I'm a legitimate guy, and things just kind of got out of my control, and so I'm not a real criminal.
A judge offered Pearlman an unusual proposal in an effort to uncover any funds that Pearlman might have hidden: For every million returned to victims, Pearlman would get a month shaved off his prison sentence. Pearlman turned to what he knew best and started a Christmas choir inside prison — he even held auditions. Emily Dorsett, a talent developer, wanted to help his venture behind bars and flew from California to Florida to meet him.
Though Dorsett and Pearlman would stay in touch, the former music mogul never created a new television show from prison. And while some money was recovered from the many millions that Lou Pearlman took, it was a small fraction of what investors had lost — in some cases, their life savings.
Pearlman never realized his dream of making one more boy band. He died in prison in of heart failure at You hated him. And it pissed me off that he passed away. He funded it… I don't know where I'd be without him. So you have to give him that credit. We'll notify you here with news about.
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