The Scam Artist Who Robbed Backstreet Boys and NSYNC Blind. 'Some of the Guys Couldn't Pay Their Car Payment.'

In the 1990s, Lou Pearlman made millions creating the Backstreet Boys and NSYNC. It was all a giant Ponzi scheme.

learn more about Entrepreneur Staff

By Entrepreneur Staff

If you were a teen in the late 1990s to early 2000s, you could not escape the pull of the Backstreet Boys and NSYNC.

The boy bands were a cultural phenomenon, influencing fashion and music trends and shaping the sound of pop music for a generation. Backstreet Boys sold 130 million records worldwide, making them one of the best-selling boy bands of all time, while NSYNC followed closely behind with 70 million records sold.

The man behind the bands was a larger-than-life character named Lou Pearlman — literally, he was said to weigh around 330 pounds.

Initially a blimp salesman (we kid you not), Pearlman became one of the most successful talent managers and record producers of all time, casting and training the biggest boy bands in the world.

Photo by Mark Weiss/WireImage

Pearlman was said to have a net worth of over $300 million at the height of his success — until it all came crashing down like the Hindenburg. Pearlman died penniless in prison in 2016.

Related: These Scammers, Con Artists, and Barely-Legal Lowlifes Will Stop at Nothing To Bilk Their Marks of Millions

On the latest episode of Entrepreneur's new podcast, Dirty Money, editors Dan Bova and Jon Small tell the lurid tale of the Boy Band Bandit. How did Pearlman become so successful, and where did he go so wrong?

They're joined by Lou Pearlman expert Tyler Gray, who has written the definitive book on Pearlman called The Hit Charade: Lou Pearlman, Boy Bands, and the Biggest Ponzi Scheme in U.S. History

Listen to the podcast here or subscribe wherever you listen to podcasts.

Entrepreneur Staff

Entrepreneur Staff

Editor

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

I Live on a Cruise Ship for Half of the Year. Look Inside My 336-Square-Foot Cabin with Wraparound Balcony.

I live on a cruise ship with my husband, who works on it, for six months out of the year. Life at "home" can be tight. Here's what it's really like living on a cruise ship.

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business Solutions

Learn to Build a ChatGPT Bot for Only $30

If you want to see what AI can do for your business, grab this course bundle today.

Thought Leaders

20 Signs You're Destined to Become a Millionaire

Start making money at a young age. Warren Buffett sold packets of gum to his neighbors at age six!