Lou Pearlman Dies In Prison At 62
August 22, 2016 at 4:00 AM (PT)
LOU PEARLMAN, the man credited with creating THE BACKSTREET BOYS and 'NSYNC, has died in prison. He was 62.
PEARLMAN was sentenced in 2008 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 to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court.
USA TODAY reports, "Reactions to his death have been mixed. 'NSYNC singer LANCE BASS tweeted, '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.' AARON CARTER, another of PEARLMAN's acts, tweeted, "#LouPearlman my old manager died in prison ... RIP, LOU, not the best business guy really at all but he did discover me karma is real."