Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Results 1 to 2 of 2
  1. #1
    Unchained VF5150's Avatar
    Join Date
    Last Online

    10.09.15 @ 08:03 PM
    Liked 1 Time in 1 Post

    Default Some asshole goes to jail, music to benefit

    Thank goodness, we wont have to hear any more of those music-free gay ass shit bands for a while. Maybe.

    Associated Press
    ORLANDO, Fla. - Lou Pearlman, the man who created the Backstreet Boys and 'N Sync, was sentenced Wednesday to 25 years in federal prison 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.

    "The sympathy factor just doesn't run very high with the court," Sharp said.

    However, the judge said he would reduce Pearlman's sentence by one month for every $1 million returned to investors. It wasn't clear how, or if, investors would ever be compensated.

    "I want to say clearly that there's no pot of gold out there," defense attorney Fletcher Peacock said.

    Prosecutors allege Pearlman scammed individuals out of an estimated $200 million, and banks out of another $100 million.

    The courtroom was packed with victims, some of whom gave emotional testimony. Another two dozen or so waited outside.

    "Over the past nine months since my arrest, I've come to realize the harm that's been done," Pearlman said in a short courtroom statement. "I'm truly sorry and I apologize for what's happened."

    Peacock said Pearlman meant to pay back all the investors, and noted he had returned about $103 million.

    He said Pearlman got caught up in lawsuits - also alleged fraudulent business practices - over his otherwise successful entertainment ventures in the 1990s that prevented him from returning the money.

    "out of the seven threads he's started here, four have been closed for being cluelessly ponderous as well as outright insipid"
    -chefcraig on me

  2. #2
    orig VH fan x craps champ edwardv's Avatar
    Join Date
    hanover pennsylvania
    Favorite VH Album

    diver down
    Favorite VH Song

    drop dead legs
    Last Online

    10.27.16 @ 12:08 PM
    Liked 1,141 Times in 730 Posts

    Premium Member


    Now if we could just send the Goverment to jail too.......



Similar Threads

  1. Who is an Asshole Van Halen Fan???
    By VAVH in forum Main VH Discussion
    Replies: 1
    Last Post: 11.28.06, 08:23 PM
  2. DLR must be the biggest asshole on the planet
    By Sunday Afternoon in forum Main VH Discussion
    Replies: 25
    Last Post: 02.13.02, 08:55 AM
  3. DLR must be the biggest asshole on the planet
    By Sunday Afternoon in forum Main VH Discussion
    Replies: 6
    Last Post: 02.12.02, 12:45 PM
  4. A tale of one Asshole!
    By Pumpkinhead in forum VH Fans Meeting Place (Non-Music)
    Replies: 3
    Last Post: 12.24.01, 10:48 PM
  5. Asshole Alert!!
    By MightyVanHalen in forum Main VH Discussion
    Replies: 4
    Last Post: 08.09.00, 07:21 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts