Maybe Lou Pearlman Will Find A Nice Boy To Make Sweet Music With In The Slammer?
Here are the details, from Reuters:
U.S. District Judge G. Kendall Sharp gave Pearlman the chance to cut his prison time by offering a one-month reprieve for every $1 million in cash he helps a bankruptcy trustee recover for his victims.
Theoretically, Pearlman could cancel his entire 300-month sentence by repaying the $300 million debt.
His lawyer, Fletcher Peacock, said in a written plea that 25 years amounted to a "sentence to death in prison" for the 53-year-old impresario who lived a jet-set life of mansions and luxury cars before the fraud scheme collapsed.
In an audacious two-decade scam, Pearlman admitted in his plea agreement to enticing individuals and banks to invest millions of dollars in two companies which existed only on paper -- Transcontinental Airlines Travel Services Inc and Transcontinental Airlines Inc.
He won investors' confidence with fake financial statements created by a fictitious accounting firm.
Vanity Fair did a pretty hot article on "Big Poppa" Lou last fall, called "Mad About The Boys," which alleges he was into more than just fingering cash.