/Orlando Boy-Band Mogul Died of Cardiac Arrest

Orlando Boy-Band Mogul Died of Cardiac Arrest

 

UPDATE: Details have been provided in the death of Former Boy Band founder Lou Pearlman. Authorities say Pearlman died of cardiac arrest  at a Miami hospital while awaiting surgery

for a heart issue.  Pearlman had a history of heart problems.

 

The mastermind behind “Boy Bands” N’Sync and  The Backstreet Boys has died

Lou Pearlman died Friday while serving a 25-year sentence for one of Florida’s largest -ever Ponzi schemes. 62-year-old Pearlman built an  empire of Boy Band acts around the world in the late 1990s . It collapsed in 2006 after authorities discovered that he was running a massive $300 million dollar Ponzi scheme. Pearlman  filed bankruptcy in 2007, was then convicted of fraud, and subsequently sentenced to prison in 2008. The cause of Pearlman’s death has not been disclosed as of Sunday

The Orlando entrepreneur is credited with starting the ’90s global  Boy-Band craze, and managed big-name acts including the Backstreet Boys, ‘N Sync, O-Town and the Chippendales before the scheme was uncovered. Pearlman also invested heavily in the Orlando area, including a large redevelopment project in downtown Orlando, and  the Orlando Predators Arena Football Team.Pearlman’s  victims were conned into  investing  in worthless stock and IRAs  through his companies –   Transcontinental Airlines Travel Services and Trans Continental Airlines .  He  pleaded guilty to two federal conspiracy charges, money laundering and making a false statement in a bankruptcy proceeding.

NSync singer Lance Bass posted to Twitter Saturday that Pearlman “might not have been a stand-up businessman, but I wouldn’t be doing what I love today (without) his influence. RIP Lou.”

 

 

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