Rock & Roll Daily, Your non-stop music news source.
Previous Next Latest

Lou Pearlman Indicted On Five Counts of Fraud

6/28/07, 12:26 pm EST


After his much-publicized capture in Bali and detainment in Guam, boy band impresario Lou Pearlman was finally indicted by a federal grand jury in Florida yesterday. Pearlman is accused of using fake accounting documents to secure millions of dollars in bank loans. Additionally, Florida investigators claim that Pearlman defrauded at least 1,000 independent investors out of more than $315 million; a handful of banks say he owes them more than $120 million. We’re thinking these developments move Pearlman up the list of baddest Svengalis ever.

[Photo: Nunez/Wireimage ]

Rolling Stone

More Rock News


Previous Next Latest

Comments

Kelly Walrus | 6/28/2007, 1:33 pm EST

That pictures actually of Don Vito.

Mario Kart | 6/28/2007, 2:19 pm EST

Bye Bye Bye

J Noles | 6/28/2007, 3:37 pm EST

Now, he can put together a boy band in jail… only he will be the bitch this time.

MusicalJenius | 6/28/2007, 8:10 pm EST

Hoist crap on the world and the world hoists it back

Frank | 6/30/2007, 11:46 am EST

He finally is getting what he deserves. Feel bad for the old people he ripped off. Would love to see benefit concert by his old boy bands to give money back to the Florida people he hurt so badly.

Frank | 6/30/2007, 11:46 am EST

He finally is getting what he deserves. Feel bad for the old people he ripped off. Would love to see benefit concert by his old boy bands to give money back to the Florida people he hurt so badly.

Post A Comment

Caution: Off-topic comments will be deleted

Name:

Comments:

RSS Subscribe to Rolling Stone Rock & Roll Blog feed

See all available RSS feeds / learn more

Advertisement

Advertisement