[youtube=http://www.youtube.com/watch?v=dNO6vp4V8L4]
The band ‘N Sync isn’t the only one singing, “Bye Bye Bye” these days. Former Backstreet Boys and ‘N Sync manager Lou Pearlman will find out how hard it is to say goodbye to his lakefront Orlando home ($7.1 million) and an Atlantic City, New Jersey condominium ($335,000). A bankruptcy judge has approved the sale of both.
The bankruptcy judge also approved the return of deposits Pearlman made toward a November cruise on the Queen Mary 2, which he clearly won’t be taking since he is currently sitting in jail on charges of bank fraud, mail and wire fraud. Also to be returned are eight season tickets to the Orlando Magic games (no great loss there).
Pearlman allegedly defrauded more than 1,000 investors out of more than $315 million. The IRS has still not commented on the matter of fraudulent tax returns which were part of the scam.
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Yikes… no fun at all. I just read over a ton of your blog — incredibly well done. I’m impressed, especially considering your topic.
Thanks!