Forums / Public / Celebrities / Why is that guy who created NSYNC and Backstreet Boys going to prison for 25 years?
| Author | Message |
BombDrop
638 posts |
#298401 2008-05-21 17:18 GMT |
|
I just heard about that. Does anyone know why?
|
|
Minnie
629 posts |
#298402 2008-05-21 17:21 GMT |
|
something about financial fraud
|
|
Moby
634 posts |
#298403 2008-05-21 17:22 GMT |
|
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 in March to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court. U.S. District Judge G. Kendall Sharp noted that many victims were Pearlman's relatives, friends and retirees in their 70s or 80s who lost everything. |
|
LetsRemeber
622 posts |
#298404 2008-05-21 17:23 GMT |
|
it's for engineering a decades-long scam that bilked thousands of investors out of their life savings
|
|
MorningAfter
681 posts |
#298405 2008-05-21 17:23 GMT |
|
His names lou pearlman and he ran a Ponzi scheme. Read more at wikipedia (http://en.wikipedia.org/wiki/Lou_Pearlman)
|
|
SpongeBob
668 posts |
#298406 2008-05-21 17:27 GMT |
|
lou pearlman is the creator of nsync, backstreet boys and the chippendales. he has to go 25 years to prison for financial frauds ( 100 millions of dollars). he has cheated small investors.. I can't translate the wohle article because I'm german and my english isn't very well
|
|
Arachnid
665 posts |
#298407 2008-05-21 17:47 GMT |
|
BECAUSE HE WAS PLOTTING WITH THE EVIL CATS TO TAKE OVER THE WORLD.
|
|
JunkFoodAddict
668 posts |
#298408 2008-05-21 18:23 GMT |
|
He scamed about $300 million dollars out from his investors and then scamed more $650,000 dollars from some elders tricking them to invest in a trust fund. He also lied in some documents when he filled for Bankruptcy a few years ago.
But he is going to jail for the $300 million. |
|
> 1 <
pisces generous monthly meaning history seems one list start thing work hundred geeks orbits view dragons goats relationships comets supplies country scales new states addresses materials snakes gemini live sky planets decisions occur tigers conquer cusp size billion tent geminis beginner money expectancy irs sciences free aries studied capricorn owner customer