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'N Sync Creator Sentenced To 25 Years In Prison

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May 21, 2008 6:37 pm US/Eastern

'N Sync Creator Sentenced To 25 Years In Prison

Pearlman Pleaded Guilty To 4 Federal Counts Last March

ORLANDO (CBS4) ― The man who created the teen pop groups 'N Sync and the Backstreet Boys will be singing the jail house blues.

Wednesday promoter and music mogul Lou Pearlman was sentenced to 25 years in federal prison.

Pearlman had been accused of bilking thousands of people out of more than $300 million in a decades-long investment scam. Last March, he pleaded guilty two counts of conspiracy, money laundering and using false statements in a bankruptcy proceeding.

During his sentencing, Judge G. Kendall Sharp said he would Pearlman's sentence by one month for every $1 million he returned to the investors he'd stole from.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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