Lou Pearlman Loses In Bankruptcy Case
Filed under: Celebrity News, News | By: Kerry
Posted on: September 11, 2007 | 2 Comments
It has been reported that a bankruptcy judge has approved the sale of boy band svengali Lou Pearlman’s homes in Orlando, Florida and Atlantic City, New Jersey.
53 year old Lou Pearlman was former manager of Backstreet Boys and ‘N Sync but apparently he has lost his $7.1 million Orlando property and his $335,000 Atlantic City condominium in Thursday’s ruling.
Lou is apparently in jail after being indicted on three counts of bank fraud and separate counts of mail and wire fraud.
A lawsuit filed in Florida alleges Lou manage to secure bank loans of $20 million using papers from a fictional accounting firm.
It has been said that Lou could face 130 years in prison and a $3 million fine if convicted of all charges in the federal indictment.
Do you think that he will be convicted and end up serving around 130 years in prison?
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DEATH!!!! I wish Hitler was still alive.
This ain’t such a bad place. I’ll introduce you around, make you feel right at home. I know some big ol’ bull queers who’d love to make your acquaintance…especially that big
white mushy butt of yours…
OH GOD! I DON’T BELONG HERE! I WANNA GO HOME!