Boy Band Mogul Lou Pearlman Sentenced to 25 Years in Prison

It was the maximum sentence the boy band mogul could receive for allegedly swindling some $300 million from investors and banks since the early 1980s. He pleaded guilty in March to two counts of conspiracy and single counts of money laundering and presenting a false claim in bankruptcy court. U.S. District Judge G. Kendall Sharp noted that many victims were Pearlman's relatives, friends and retirees in their 70s or 80s who lost everything.