Lou Pearlman Net Worth is$300 Million
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Profession: Record producer, Businessperson, Confidence artist, Impresario, Entrepreneur
Date of Birth: Jun 19, 1954
Ethnicity: Jewish people
Country: United States of America
Lou Pearlman was born in New York and has an estimated net worth of $300 million dollars. Lou Pearlman began life as a businessman falsely leasing blimps (that did not exist) to large companies for advertising purposes. When that business failed, he decided to jump on the boy-band wagon, and created two of the most popular boy-bands of the '90's, The Backstreet Boys and NSync. He bilked all off the groups he worked with out of millions of dollars and was eventually jailed for his various fraudulent practices. His release is set for 2029.
Louis Jay "Lou" Pearlman (born June 19, 1954) is a former impresario of the successful 1990s boy bands such as The Backstreet Boys and *NSYNC. In 2006, it was discovered that Pearlman had perpetrated one of the largest and longest-running Ponzi schemes in American history, leaving more than $300 million in debts. After getting caught on the run, and pleading guilty to conspiracy, money laundering and making false statements during a bankruptcy proceeding, in 2008 Pearlman was convicted and sentenced to up to 25 years in prison.
Lou Pearlman was born and raised in Flushing, Queens, the only child of Jewish parents Hy Pearlman, who ran a dry cleaning business, and Reenie Pearlman, a school lunchroom aide. Pearlman is the first cousin of Art Garfunkel. His home at Mitchell Gardens Apartments was located across from Flushing Airport, where he and childhood friend Alan Gross would watch blimps take off and land. According to Pearlman's autobiography, Bands, Brands, & Billions, it was during this period he used his position on his school newspaper to earn credentials and get his first ride in a blimp. (This version of events is disputed by Gross, who claims he was the school reporter, and allowed Pearlman to tag along.)
His cousin Garfunkel's fame and wealth helped fire Pearlman's own interest in the music business. As a teenager he managed a band, but when success in music proved elusive, he turned his attention to aviation. During his first year as a student at Queens College, Pearlman wrote a business plan for a class project based on the idea of a helicopter taxi service in New York City. By the late 1970s, he had launched the business based on his business plan, starting with one helicopter. He convinced German businessman Theodor W"ullenkemper to train him on blimps and subsequently spent some time at W"ullenkemper's facilities in Germany learning about the airships.
Returning to the United States, Pearlman formed Airship Enterprises Ltd, which leased a bli

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Lou Pearlman Latest News

Lou Pearlman was a disgraced mogul who defrauded ’90s boy bands. Then came the $300 million Ponzi scheme.

Before he was implicated in one of the largest Ponzi schemes in U.S. history, Lou Pearlman’s lies started to unravel at a meal with 'N Sync at a Los Angeles steakhouse. Sitting around the table with ...
Posted: March 13, 2019, 9:05 pm

Boy Band Con Man Lou Pearlman to Get Biopic Treatment (Exclusive)

Edward Pressman and former Village Roadshow CEO Greg Basser are set to produce along with luxury fashion marketing guru David Anton and hitmakers Desmond Child and Andreas Carlsson. As music biopics ...
Posted: July 19, 2019, 12:50 pm

Backstreet Boys: Lou Pearlman ‘broke our hearts’

Nick Carter, Howie Dorough, A.J. McLean, Brian Littrell and Kevin Richardson talk to Tracy Smith for the segment. “We paid him,” Littrell says. Richardson explains why the betrayal was so devastating: ...
Posted: September 13, 2019, 5:02 pm
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