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Lou Pearlman, the airplane entrepreneur turned boy band promoter turned modeling agency con-artist, has been ordered to repay $300 million to investors he bilked in a decade-long Ponzi scheme.

It's been a stunning downfall for Pearlman, who is now serving a 25-year prison sentence. He was the Svengali behind the Backstreet Boys and *NSYNC, but was later sued by both bands, and accused of inappropriate sexual conduct by several former band members, most notably Nick Carter.

Interesting trivia item: Mr. Pearlman is the first cousin of Art Garfunkel. Take a look at this funny video from Saturday Night Live, parodying Mr. Pearlman.

See more funny videos at Funny or Die

Lou Pearlman ordered to pay $300 million to Ponzi scheme victims originally appeared on BloggingStocks on Wed, 16 Jul 2008 18:14:00 EST. Please see our terms for use of feeds.

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