Lou Pearlman was an American record producer, con artist, and fraudster who had an estimated net worth of $300 million. Lou Pearlman was born on June 19th 1954 in New York City and he started his life as a businessman where he engaged in the false leasing of airships which did not really exist to large companies for advertising purposes. However, that business failed and he started the boy band wagon where he created the most popular boy bands of the 1990's which are the Backstreet Boys and N'Sync. He later defrauded all the groups he worked with millions of dollars which led to his imprisonment. His jail term was scheduled to end in 2019.

Lou Pearlman's source of wealth was through working as a music producer as well as music manager. He was discovered to have perpetrated the largest Ponzi scheme at the time in American history in 2006 when he left more than $300 million in debts. After his apprehension, he pleaded guilty to money laundering, conspiracy and making false statements. In the year 2008, Pearlman got convicted and was sentenced to 25 years in prison. He eventually died while he was in federal custody in the year 2016.

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