« Who's a clever boy? Stray parrot talks his way home! | Main | Jessica Alba Marries Cash Warren »

Lou Pearlman sentenced to 25 years in federal prison

lou_pearlman_mugshot.jpg


Boy-band mogul Lou Pearlman was sentenced this morning to 25 years in federal prison for running a lengthy, systematic con that artificially inflated his net worth and cheated people out of $300 million.

During Pearlman's sentencing in U.S. District Court this morning, Senior U.S. District Judge G. Kendall Sharp offered Pearlman an incentive to pay back his investors: For every $1 million he puts back in investors' pockets, he gets one month off of his sentence.

Since Pearlman's sentence is for 300 months, he can avoid prison altogether if he forks up the cash.

"I'm most concerned for the investors, even more so than the institutions," Sharp said.


[OS]


AddThis Feed Button

Blog Widget by LinkWithin
The comment section for this entry is now closed.

Advertisments






Follow Wizbang Pop!

Wizbang Pop! on Facebook Follow Wizbang Pop! on Twitter Subscribe to Wizbang Pop! feed

Around The Celebrisphere

Categories

Archives

Credits

Section Editor: Paul Hooson

Contributors: Kevin, Adam Stone, Tracey Coyle

All original content copyright © 2003-2009 by Wizbang®, LLC. All rights reserved. Wizbang® is a registered service mark. Wizbang Pop™ is a trademark of Wizbang®, LLC.

Powered by Movable Type 3.35

Hosting by ServInt

Ratings on this site are powered by the Ajax Ratings Pro plugin for Movable Type.

Search on this site is powered by the FastSearch plugin for Movable Type.

Blogrolls on this site are powered by the MT-Blogroll.

Temporary site design is based on Cutline and Cutline for MT. Graphics by Apothegm Designs.

Author Login

Site Meter


Terms Of Service

DCMA Compliance Notice