Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Holden McGroin on July 17, 2008, 01:20:01 AM
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Boy band promoter ordered to repay victims $300M
By TRAVIS REED, Associated Press Writer
Wed Jul 16, 1:52 PM ET
ORLANDO, Fla. - Lou Pearlman and federal authorities have finally agreed on how much the former boy band promoter swindled from banks and investors in a decades-long scam: a staggering $300 million.
That's how much creator of the Backstreet Boys and 'N Sync will have to repay, at a minimum, for restitution on the fraud conviction for which he's serving a 25-year prison sentence.
I just wonder how much was of the 300M was punitive for getting those B-Bands recorded in the first place?
Now can we go after rap promoters?
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I just wonder how much was of the 300M was punitive for getting those B-Bands recorded in the first place?
Now can we go after rap promoters?
we should go after this guy....
the guy is an absolute scumbag and those artists and investors will never see that money. it's part of a growing issue in the entertainment industry that contradicts the artists protections put in place by having a manager and an agent. when these cats "put together boy or girl bands" they have ownership and publishing interests....and therefore blur the line of check and balance. It's completely contradictory to the way things should be. The State of Florida has not done as much as it could to insure this from happening. There's still ongoing litigation from one of the first cases of this involving the girl band Expose`...also a florida project.