Jailed pop music
guru Lou Pearlman was ordered to repay his debts by
selling off many of his personal items and memorabilia from
his musical act-crafting endeavors.
Pearlman, who was
responsible for the creation of 'N Sync, the
Backstreet Boys, and the ABC TV show that spawned O-Town,
allegedly conned nearly 1,800 investors of $317
million, according to Business Week. He filed for
bankruptcy in February after the Florida Office of
Financial Regulation discovered a scheme through his
company, Trans Continental Airlines--a charter
airline--to sell high-interest investments.
Radar reports that a slew of items from his
home were auctioned off Saturday. The total outcome of
revenue was not readily available, but a collection
from his office was sold, netting $225,000 in June.
block included an actual-size R2D2, a Cadillac
Escalade-style golf cart, weapons, and an autographed
Super Bowl XXXIII ball. (The Advocate)