The Ponzi Scheme Behind 90s Boy Bands

By:

Lou Pearlman blessed our radios with 90s boy bands, with money stolen out of investors' pockets. He showed us that white-collar crime pays really well, until it doesn't.

Read more about the con-man behind Backstreet Boys, *NSYNC, and O-Town below.

HE WAS A CON MAN FROM THE START Oer Whoknl Ov. Sreond Vader Pi Lore thde Betieye it or IL ice fus La Enforc Dir He got his start by founding a helicop

HE THEN STARTED TRANSCONTINENTAL AIRLINES He convinced investors to get in on the ground floor of his fleet of planes and to contribute to the Employe

THE BACKSTREET BOYS WERE FUNDED BY THE SCHEME FIRST After chartering a plane for New Kids on the Block, Pearlman decided to get into the boy band busi

HE USED THE SAME METHODS FOR NSYNC He intentionally developed a rivalry between the groups, So he could be the financial winner of the feud. CRACKED.C

HE USED THEIR FAME TO SUPPORT GAIN INVESTORS He'd take potential investors for Transcontinental to the studio to see the bands recording. CRACKED.COM

HE WAS ACCUSED OF MOLESTATION nforcement count There were also rumors that he molested boys in his bands. Vanity Fair wrote an expose covering this bu

IN 2006, THE TRANSCON CON WAS UP Bacd ir A week after an investigation was opened into his Transcon businesses, Pearlman fled the country.

IN 2008, HE WAS CONVICTED AND SENTENCED TO 25 YEARS IN PRISON. Pearlman died in prison in 2016. He was 62. CRACKED.COM

Sign up for the Cracked Newsletter

Get the best of Cracked sent directly to your inbox!

Tags

Recommended For Your Pleasure

Forgot Password?