Boy Band Mogul Pearlman Pleads Guilty
Criminal Law
For years, Lou Pearlman wowed banks and investors with slick talk and a lavish lifestyle. But when the one-time architect of the Backstreet Boys and 'N Sync set his hand on a courtroom Bible, he set the act aside. Pearlman pleaded guilty Thursday to federal charges of conspiracy, money laundering and making false statements during a bankruptcy proceeding. The plea was the result of a lengthy federal probe alleging he bilked investors and banks out of more than $300 million.
Pearlman's Transcontinental Airlines Inc. didn't have 41 airplanes, as he represented to investors. He had two, he said in court.
And he didn't have a German investment partner with a $50 million line of bailout capital, he acknowledged. In fact, that guy was also trying to get money out of him.
"I'm accepting full responsibility," Pearlman said in a roughly 50-minute change of plea hearing.
He will be sentenced May 21, and faces up to 25 years in prison and a $1 million fine.
Pearlman also pledged to help prosecutors locate coconspirators and any remaining assets, but couldn't explain to U.S. District Judge G. Kendall Sharp where the money went.
"In different investments," he said. "Aircraft, living expenses, working capital."
Pearlman acknowledged setting up a fake accounting firm to create business documents and tax returns for himself and his companies. He also admitted using the signature of a deceased former associate, Harry Milner, to push off anyone seeking repayment. Milner hadn't worked with Pearlman since 1989, the mogul acknowledged, and died in 2003.
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Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
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Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.