Skip to content

Recent Posts

  • Taxgirl Goes To The Movies: Star Wars
  • Looking For Tax Breaks?
  • Taxgirl Goes Back To The Movies In 2025
  • Here’s What You Need To Know About Submitting Tax Questions
  • Looking For More Great Tax Content?

Most Used Categories

  • individual (1,314)
  • politics (862)
  • IRS news/announcements (753)
  • tax policy (582)
  • ask the taxgirl (543)
  • prosecutions, felonies and misdemeanors (479)
  • just for fun (478)
  • state & local (403)
  • pop culture (399)
  • charitable organizations (389)
Skip to content

Taxgirl

Because paying taxes is painful… but reading about them shouldn’t be.

  • About Taxgirl
  • Info
    • My Disclaimer
    • A Word (or More) About Your Privacy
    • Subscribe
  • Ask The Taxgirl
  • Comments
  • Taxgirl Podcast
    • Podcast Season 1
    • Podcast Season 2
    • Podcast Season 3
  • Contact
  • Home
  • 2008
  • May
  • 21
  • “Lose It All” Has New Meaning For Backstreet Boys Creator Lou Pearlman

“Lose It All” Has New Meaning For Backstreet Boys Creator Lou Pearlman

Kelly Phillips ErbMay 21, 2008

Lou Pearlman, the man who (a) created some of the most successful boy bands in music history or (b) kickstarted a trend that killed the music industry – depending on your point of view – was sentenced to 25 years in prison following a plea in March to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court.

U.S. District Judge G. Kendall Sharp said, however, that he would reduce Pearlman’s sentence by one month for every $1 million returned to investors. Returning the money clearly isn’t going to happen: prosecutors allege Pearlman scammed individuals and banks out of an estimated $300 million. His lawyer claimed that he had returned just over $100 million but the once powerful music mogul now claims to be penniless.

As part of his scheme, Pearlman offered fake tax returns for the years 2003 and 2004 allegedly prepared by the nonexistent accounting firm of Cohen & Siegel.

Facebooktwitterlinkedinmail
author avatar
Kelly Phillips Erb
Kelly Phillips Erb is a tax attorney, tax writer, and podcaster.
See Full Bio
social network icon social network icon
Lou-Pearlman

Post navigation

Previous: Tax Rebate Checks To Be Called “Empowerment Rebates”?
Next: Farm Bill: Really Green Acres? Democrats Vow To Fix Bill

Related Posts

mansion

LA Times Mention In Mansion Tax Story

June 15, 2023 Kelly Phillips Erb
dollar bills

Taxpayers Can Learn From GoFundMe Scam

July 29, 2022August 7, 2022 Kelly Phillips Erb
calculator and figures

IRS Criminal Investigation: Talking Taxes And The Law With Chief Jim Lee

January 19, 2021January 5, 2022 John Luckenbaugh

3 thoughts on ““Lose It All” Has New Meaning For Backstreet Boys Creator Lou Pearlman”

  1. Keith says:
    May 21, 2008 at 9:39 pm

    Seems like a stiff sentence for being a thief, no matter how much money was involved. Oh well, at least he didn’t get any of my money.

    Reply
  2. Wayne PHILLIPS says:
    May 22, 2008 at 9:05 am

    Not being a comtemporary music lover, I did not recognize the name Lou Pearlman. Apparently he balantly beleives in the good life, and is immune to taxes and breaking the law. Using a non-existant accounting firm clearly shows intent.
    Twenty-five years! Seems a small price for a living a lavish lifestyle at the expense of others.
    Such thievery, and contempt for the laws of the land equates to GREED.
    Folks who believe this is too severe, should ask how would they feel if they had been the victim? Ask the enron folks. Ask folks at the gas pump who feel oil companies’ greed is getting to point of comtempt for their customers and the country.
    Give him a “rest of your life” address, and make it an 10’X12′ room, with scheduled meals.

    Reply
  3. Diane says:
    May 22, 2008 at 8:15 pm

    It’s such a same to see people of such vast wealth that believe they are above the law. How would anyone think that with this much income they could get away from not being audited if out of compliance ?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© 2005-2022, Kelly Phillips Erb | Theme: BlockWP by Candid Themes.
Skip to content
Open toolbar Accessibility Tools

Accessibility Tools

  • Increase TextIncrease Text
  • Decrease TextDecrease Text
  • GrayscaleGrayscale
  • High ContrastHigh Contrast
  • Negative ContrastNegative Contrast
  • Light BackgroundLight Background
  • Links UnderlineLinks Underline
  • Readable FontReadable Font
  • Reset Reset
  • SitemapSitemap
  • FeedbackFeedback