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| Pearlman Must Pay: Infamous swindler and former boy band manager Lou Pearlman has been ordered to
pay his victims, including individual investors and banks, $300 million for
restitution on his Ponzi scheme. The corpulent crook
is currently serving a 25-year prison sentence, but U.S. District Judge G.
Kendall agreed to reduce the sentence by one month for each $1 million sum
returned to investors. Making the payments may be impossible; the fortune
Pearlman made in the ‘90s with bands like ‘N Sync seems to have disappeared,
and he can only make $0.12-$1.15 an hour working in prison. The judge recently
decided that individual investors should be repaid before banks. –Kaitlin Krumeich |
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