5 Revelations About Lou Pearlman’s Ponzi Scheme

[Warning: The below contains MAJOR spoilers for Dirty Pop: The Boy Band Scam.]

When it came to ’90s boy bands, no name was more integral to their rise in popularity than Lou Pearlman, the man who helped bring Backstreet Boys and NSYNC to fame alongside several other groups. But as Netflix’s docuseries Dirty Pop: The Boy Band Scam documents, Pearlman was running a crooked operation.

Below, we’re breaking down the biggest revelations from the three-episode docuseries.

Lou Pearlman Ran the Longest Ponzi Scheme in American History

For those familiar with Pearlman’s story, the Ponzi scheme is nothing new as he was apprehended in 2007 and forced to face consequences for his fraudulent activities which included falsifying bank records, money laundering, and conspiracy. But it was the length of time over which Pearlman duped the people around him that is astounding. Pearlman’s scheme stretched more than 20 years, victimizing his clients, investors, and many more. Over the course of his criminal career, Pearlman stole $500 million, which impacted nearly 2,000 investors made up of families and individuals who gave money over 30 years.

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Lou Pearlman’s Friends Hold Him Responsible for Frankie Vazquez Jr.’s Death

One of Lou’s childhood friends, Marc Piacenza, got candid when reflecting on the suicide of their colleague and friend Frankie Vazquez Jr., noting “Yes, I hold Lou responsible for Frankie’s death. Yeah, I do. Didn’t close the garage door. Didn’t write the note. But he might as well have.” Frankie was another one of Lou’s friends who became wrapped up in the man’s business ventures, specifically through blimps and aviation at first, before segueing into the music business. When Frankie became connected to Lou’s business, he convinced his mother to invest her life savings. Frankie’s mother suspects that one of the reasons her son was struggling towards the end of his life was because he was trying to get her investments back and had struggled to grapple with the true nature of Lou’s financial situation.

Natural’s Patrick King Lived With Lou Pearlman for Years

It turns out that one member of the band Natural lived long-term with Lou which began after Patrick King needed a place to leave his things while he was out on tour. “I had a conversation with Lou about it, and he was just like, ‘Throw your stuff in my house while you’re gone, and you don’t pay rent. Then you can figure it out later.’ I came back. I stayed there, and you know, that was that. I lived with Lou for seven years,” King revealed in the documentary. King was even on-site when the FBI eventually raided Lou’s home when he disappeared to evade apprehension by authorities.

Only Five People Attended Lou’s Funeral

Ultimately, only five people attended Lou’s funeral when he died in 2016. It was Natural’s Mike Johnson who ended up calling the coroner about Lou’s body. “I remember calling the coroner a couple days later,” Johnson recalled following Lou’s death, “and he was like, ‘Man, I was starting to wonder what to do with his body ’cause nobody has contacted me.’” According to Johnson, many calls were made regarding who would claim the body. Ultimately, Lou ended up being buried in New York where his family plot is located but there is no stone indicating where his grave is located.

Lou Pearlman Was First Cousins With Art Garfunkel

This isn’t exactly a revelation but, it is an interesting fact for those unfamiliar with Lou Pearlman’s lore. The con artist was actually first cousins with famous singer and musician Art Garfunkel. When Lou died, Art was asked to claim the body but refused.

Dirty Pop: The Boy Band Scam, Streaming now, Netflix