When N'Sync and the Backstreet Boys were but wee lads, Lou Pearlman decided to buy them for pennies on the dollar. After his purchase he thought it might be financially wise if he turned them all into a super awesome street dancing crew or something.
The young tots grasped dance so quickly he decided to make them sing too – a wise move. At their highest, N'Sync alone was trading for over thirteen dollars a share on the NASDAQ.
Pearlman's financial windfall made him both rich and wealthy and well-to-do. Also he got very fat and then he turned evil. That's why when he grew bored of making young boys dance he turned to ponzi schemes to bilk people out of millions of dollars.
And now it seems he might go to prison for it.
Boy bands are generally constituted of fellows who are very happy to learn others of them are gay. The rest of them are just happy to sing songs at Jamie Foxx . Still others fight for years to get out from under the fat thumb of Lou Pearlman, who is very fat.
But Pearlman, apparently, isn't just fat with blubber – he's also fat with evil. Part of Pearlman's evilness can clearly be seen in that he unleashed a rather unpleasant mid to late-nineties pop scene on us. The world is almost recovered now, but only thanks to something our friend Blitzkrieg Gary keeps calling 'uppers.'
But Lou Pearlman's dark reach didn't end with so-so music – it stretched all the way to ponzi schemes, or so it seems. As the BBC worded it so perfectly:
"According to the 47-page plea agreement, Mr Pearlman has admitted enticing investors and banks to invest millions of dollars in two companies that "existed only on paper". Prosecutors counted at least 250 individual victims who lost $200m (£101m), plus 10 financial institutions that lost $100m (£50.6m)."
For those of you currently finding the determination to never buy any of Pearlman's musical products again, please just look in your souls and remember how awesome it was when the BS Boys were walking away from their Private Jet in slow motion for that one video. We heard Fidel Castro saw that bit and was so moved he made a tear-filled declaration for 15 minutes of democracy sometime in the fall of 1999. The whole island got it.
No seriously Google "Backstreet Boys" "Cuban Democracy" Video. Go on now – Google it.
Read More:
Boy Band Mogul Lou Pearlman Admits Role In Ponzi Scheme – Fox News