BOY BAND PROMOTER ORDERED TO REPAY VICTIMS $300 MILLION

I'm sure many of you remember the Lou Pearlman era of music. The shady man behind the BackStreet Boys, and NYSYNC is currently serving 25 years behind bars and was ordered to pay back $300 million for a scam he was running where hetook $195 million from more than 1,000 people in an alleged savings program promising 6% to 10% returns, and $126.7 million in bogus loans from federally insured banks. Another $70 million was invested by people who thought they were buying shares in companies owned by Pearlman that mostly had no assets....Another lesson that crime doesn't pay.


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