| 9 weeks 8 hours 53 min ago Boy band creator gets 25 years in prison
|
(NECN/ABC) - 53-year-old conman Lou Pearlman was sentenced to the maximum 25 years behind bars for cheating banks and investors out of $300 million. But, he can get one month off that sentence for every million dollars he pays back to his victims.
The saddest story came from 87-year-old Juanita Reynolds from St. Petersburg Beach, who told the judge her successful husband was duped into losing millions to Pearlman. He was destroyed by the failure and died seven months later.
Pearlman told the judge "I want to do what I can to help. Hopefully in this way, I can help repay their losses."
Prosecutors say it's very difficult to recover money from overseas accounts.
WFTV reporter Kathi Belich has the story from Orlando, Florida.
Play video