More trouble for the original Fat Bastard, Lou Pearlman.
Federal prosecutors have determined just how much money Lou owes all the people he has stolen from.
The answer? He owes $424.4 million!!!!
Pearlman was handed down a judgement of $297 million in losses to the people he defrauded. Then, in addition to that, prosecutors are demanding that he also pay $127 million in interest that has accrued since January 1989 through December 2006.
We hope he has that money tucked away somewhere safe!
Last month, Lou was sentenced to 25 years in prison.
However, Fletcher Peacock, Pearlman’s attorney, said he will object to the sleaze-bag having to pay interest on the restitution amount which he says should only be about $300 million.
Peacock says, “The interest was fictional at best. If Mr. Pearlman made interest on the money, then certainly, I could understand how the victims would be entitled to that.”
Well, the value of money fluctuates, and a dollar back in 1989 isn’t worth the same as a dollar today.
Pearlman should pay back the money and interest – if he can even pay back anything at all!
As of today, only about $5 million has been recovered in other Pearlman bankruptcy cases.
Wonder what he spent all his money on?
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