The arrest for the ponzi scheme came after a wide variety of highly publicized legal battles between Pearlman and the various boy bands he helped create.
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While serving out a 25-year prison sentence, he died Friday night at the age of 62. The singer’s heartfelt message means even more if you know the full story behind NSYNC’s relationship with Lou, who ended up being sued by them, as well as acts like the Backstreet Boys, who alleged that he had robbed them of millions.
But in 2006 he was revealed to have swindled banks, investors, family and friends in a Ponzi scheme worth 300 million dollars.
Fellow *NSYNC members Chris Kirkpatrick and Lance Bass also commented on Pearlman’s death in social media posts.
Following the success of the Backstreet Boys, Lou Pearlman founded NSYNC.
Other groups signed to his Trans Continental Records included O-Town, who were formed via MTV show Making The Band, LFO and girl group Innosence, which briefly featured one Britney Spears.
United States singer Aaron Carter, younger brother of Nick, also took to the platform, writing that he wasn’t ‘the best business guy really at all but he did discover me’. The Backstreet Boys went on to become the best selling boy band of all time, selling 130 million records. Timberlake tweeted, “I hope he found some peace. RIP Lou”, Bass wrote. The judge told Pearlman he could reduce his sentence if he repaid the people he cheated, but he never paid, People reports.
LOU Pearlman died in prison today, while serving a 25-year sentence.
Singer Aaron Carter, the younger brother of the Backstreet Boys’ Nick Carter, shared similar thoughts.
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Inspired by the success of the boy band New Kids on the Block, Pearlman recruited a group of unknowns to form the Backstreet Boys, which soared to stardom in 1996, becoming one of the best-selling boy bands of all-time. He suffered a stroke in 2010 and was diabetic, but it isn’t clear if either issue was related to his cause of death. It’s a shame he let his greed get in his way.
