How did Lou Pearlman invent NSYNC and The Backstreet Boys while running the longest Ponzi scheme in history? Find out in this video!
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90’s Nostalgia
The 90s were a magical time filled with mom jeans, frosted tips, and, of course, boy bands. The phenomenon took the music industry by storm and dominated pop culture for much of the decade.
Lil Pearlman
Let's start at the beginning, long before Pearlman became one of the most influential figures in the '90s music scene. Lou was an only child growing up in Flushing, New York. He spent a lot of his time with his childhood best friend, Alan Gross.
Crashing and Burning
Pearlman took all the knowledge and expertise he had absorbed and used it to launch his very first blimp venture. He started Airship Enterprises Ltd. and planned to lease blimps to various companies to advertise their brands.
Lou Kid on the Block
With a couple of failed blimp enterprises under his belt, Pearlman made his return to music. Inspired by the success of his cousin Art Garfunkle, Pearlman surveyed the landscape of the music industry and identified one band, in particular, that was making serious 90s waves.
New BBB - Brands, Bands, and Billions
At this point, Pearlman looked like an absolute genius. He was the brains behind two of the most viral music sensations of the 1990s and helped many other successful musicians gain footing in the ultra-competitive industry.
No Strings Attached
It seemed like everything was going swimmingly for Pearlman and the successful boy bands he helped shape. The Backstreet Boys had exploded up the charts, so too had NSYNC, and the two star-studded groups were piling up the record sales for Trans Continental Records.
Ponzi Pearlman
If being buried in endless lawsuits wasn't enough of a bummer for Pearlman, his whole music empire came crashing down in 2006. The FBI had been investigating Pearlman's affairs at Trans Continental Records and the label's parent company, Trans Continental International, Inc., which Pearlman also ran.
Bye, Bye, Bye
But Pearlman wasn't home to answer the door. Big Poppa was long gone, having caught wind of the FBI's imminent arrival, and fled the country as quickly as he could. He first went to Germany to evade his would-be captors.
The End is Near
Lou's company was forced to file for involuntary bankruptcy shortly before his arrest. Many of his high-priced possessions and boy band memorabilia were sold at auction to recoup the money he owed.
Pearlman’s Legacy
The boy band mogul's legacy has lived on without him, not only due to the continued success of the musicians he helped create, but also because of the documentaries about his eventful life.
8 авг 2024
