You will be redirected back to your article in seconds

Pearlman to repay victims

Promoter owes $300 million in restitution

Former boy band promoter Lou Pearlman will have to repay victims of his decades-long investment fraud at least $300 million in restitution.

A federal judge on Wednesday asked lawyers to draw up the order for his approval.

It’s unclear whether the creator of the Backstreet Boys and ‘N Sync will be able to raise those funds while behind bars. He’s serving a 25-year sentence on federal fraud charges.

Prosecutors also wanted U.S District Judge G. Kendall Sharpe to tack on interest, making the repayment $424 million. Pearlman’s defense says that’s unfair because the money was never invested. The judge said he’d make a decision after Pearlman returns at least some of the principal.

So far investigators have recovered few assets remaining from Pearlman’s former entertainment empire.

More Music

  • Kendrick Lamar's Label Hosts Free 'Black

    Kendrick Lamar's Label Hosts Free 'Black Panther' Screenings for Kids in Watts

    Former boy band promoter Lou Pearlman will have to repay victims of his decades-long investment fraud at least $300 million in restitution. A federal judge on Wednesday asked lawyers to draw up the order for his approval. It’s unclear whether the creator of the Backstreet Boys and ‘N Sync will be able to raise those […]

  • Harry Connick Jr

    Harry Connick Jr. Talk Show to End After 2 Seasons (EXCLUSIVE)

    Former boy band promoter Lou Pearlman will have to repay victims of his decades-long investment fraud at least $300 million in restitution. A federal judge on Wednesday asked lawyers to draw up the order for his approval. It’s unclear whether the creator of the Backstreet Boys and ‘N Sync will be able to raise those […]

  • brandi carlile Album

    Album Review: Brandi Carlile's 'By the Way, I Forgive You'

    Former boy band promoter Lou Pearlman will have to repay victims of his decades-long investment fraud at least $300 million in restitution. A federal judge on Wednesday asked lawyers to draw up the order for his approval. It’s unclear whether the creator of the Backstreet Boys and ‘N Sync will be able to raise those […]

  • Drake God's Plan

    Drake Gives Away $1 Million to Miami Community in 'God's Plan' Video

    Former boy band promoter Lou Pearlman will have to repay victims of his decades-long investment fraud at least $300 million in restitution. A federal judge on Wednesday asked lawyers to draw up the order for his approval. It’s unclear whether the creator of the Backstreet Boys and ‘N Sync will be able to raise those […]

  • Darren Criss The assassination of Gianni

    Why Laura Branigan's 'Gloria' Is the Perfect Song for an On-Screen Crime Scheme

    Former boy band promoter Lou Pearlman will have to repay victims of his decades-long investment fraud at least $300 million in restitution. A federal judge on Wednesday asked lawyers to draw up the order for his approval. It’s unclear whether the creator of the Backstreet Boys and ‘N Sync will be able to raise those […]

More From Our Brands

Access exclusive content