‘Dirty Pop’: What Was Lou Perlman Accused Of? Notorious Mogul created one of the biggest boy bands of the 90s
Los Angeles, California: Popular streaming behemoth Netflix has released the dates for the upcoming documentary series ‘Dirty Pop: The Boyband Scam’. The show will chronicle the life of talent scout Lou Perlman, who worked as a publicist for several top boy bands and performers of the 1990s.
Lu, a music tycoon, founded one of the greatest Ponzi scams in history, as well as the biggest boy band of the 1990s.
Lou was the talent manager who founded the Backstreet Boys and N’SYNC in the 1990s. In later years he achieved even greater success, producing and managing several top US bands and musicians.
But Luke was jailed in 2008. He received a 25-year term for one of the most prominent Ponzi schemes in the United States, in which he defrauded investors of more than $1 billion.
He died in prison in 2016.
Lou Perlman credited with inventing popular boy band before pleading guilty to fraud (YouTube/@Netflix)
Which boyband did Lou Perlman form?
In the 1990s, Lu began a talent hunt to find a new boy band that could rival US group New Kids in block success. He found five young men who would later become the Backstreet Boys, one of the best-selling boy bands of all time.
They are the only group since Led Zeppelin to have their first ten albums reach the top ten on the US Billboard chart; They have sold over 100 million copies worldwide. Lou later joined Justin Timberlake’s group N’SYNC, which eventually superseded the Backstreet Boys as pop icons.
Their 2000 album ‘No Strings Attached’ became the second best-selling album of the decade in the US, surpassed only by The Beatles’ greatest hits collection. His career began while creating O-Town.
After coming together on the 2000 season of MTV’s ‘Making the Band’, they went on to achieve top 10 singles both domestically and internationally. In addition, they won the 2001 Teen Choice Awards Breakout Artist of the Year title.
They broke up in 2003 but later got back together.
Lou Pearlman created boy bands like the Backstreet Boys and *NSYNC (YouTube/@Netflix).
Lou Perlman is accused of any Ponzi scheme?
Lou defrauded investors out of nearly $1 billion, authorities found in 2006. He sued the band and musicians in federal court for fraud and deceit after voicing concerns.
They were promised a lot of money, but Lou and his business gave them far less than they expected, while pocketing millions. It was discovered that he had devised a fraudulent scheme to get individuals to invest in Transcontinental International Inc.
In a 2002 complaint, 14-year-old Aaron Carter claimed that TransContinental and Lou defrauded him out of hundreds of thousands of dollars. Lu used fictitious insurance documents to lure people into financing his plans.
Besides, he took bank loans by forging false financial statements. Due to the growing notoriety and success of his musicians, he was able to increase it and earn more.
After seeing the documents, the family of one of his investors becomes suspicious and claims they have strong evidence that fraud has been committed. They told other investors in the firm that they would not get their money back, prompting a closer investigation by Florida’s Office of Financial Regulation.
Most of the money he took from investors—at least $95 million—was when it was discovered he was running a massive fraud. Lu disappeared from the United States, but after being spotted in Indonesia the following year, he was arrested.
He was sentenced to 25 years in prison in 2008 for conspiracy, money laundering and making false claims during bankruptcy.
Lou Perlman lured people into a massive Ponzi scheme that defrauded investors out of millions (YouTube/@netflix)
‘Dirty Pop: The Boy Band Scam’ Reveals Lou Perlman’s Massive Ponzi Scheme
A documentary called ‘Dirty Pop: The Boy Band Scam’ is coming soon to Netflix. It claims to cut through the loose network of lies and exposes the brutal truth of celebrity, power, exploitation and money.
You can watch it from July 24, 2024. Netflix has several packages available, from an ad-supported package to more expensive packages that are ad-free and offer better picture and sound quality.
Lou Perlman’s life to be brought to life in ‘Dirty Pop: The Boy Band Scam’ (YouTube/@Netflix)
Viewers can use their phones, iPads or smart TVs to watch the show.