Lou Pearlman |
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Louis Jay Pearlman (born June 19, 1954, New York, USA) was known in the 1990s entertainment business as the manager of boy bands the Backstreet Boys and 'N Sync, and led a lavish lifestyle throughout his business career. In 2006, it was made public that Pearlman had perpetrated one of the biggest and longest running Ponzi schemes in American history until then, leaving more than $300 million in debts. After getting caught on the run, and pleading guilty to conspiracy, money laundering, and making false statements during a bankruptcy proceeding, Pearlman was sentenced to 25 years in prison.
Pearlman was born and raised in Flushing, Queens. He is the only child of Hy, who ran a dry cleaning business and Reenie Pearlman, who was a school lunchroom aide. Pearlman is the first cousin of Art Garfunkel, their mothers being sisters. His home at Mitchell Gardens Apartments was located across from Flushing Airport where he and childhood friend Alan Gross watched blimps take off and land. According to Pearlman's autobiography Bands, Brands and Billions it was during this period that he used his position on his school newspaper to earn credentials and get his first ride in a blimp. This version of events is refuted by Gross, who claims he was the school reporter, and allowed Pearlman to tag along.
His cousin's fame and wealth helped to spark Pearlman's own interest in the music business. As a teenager, he managed a band, but when success in music proved elusive, he turned his attention to aviation. By the late 1970s, Pearlman had started a helicopter commuter service that consisted of one helicopter. He convinced German blimp tycoon Theodor Wüllenkemper to train him on blimps, and consequently spent some time at Wüllenkemper's facilities in Germany learning about the airships.