Yes, Lou Pearlman is still in jail
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December 26, 2007

Yes, Lou Pearlman is still in jail

Someone seems to be getting sick amusement out of posting comments suggesting that Lou Pearlman has or soon will be released from a jail. Lou will not be released without a court hearing and a ruling by the judge. If you ever want to check on whether he is still in the Orange County Jail, click here.

Update: Lou's next appearance before a judge, a "status conference" has been postponed to Jan. 30.

Comments

Lou is innocent..Just read this

Lou Pearlman- A Credit To His Race (guess which lol) - soc.culture.jewish | Google Groups ust read this

to benjy,
it is admirable that you think lou should be viewed as innocent or not guilty until the final verdict comes down from the courts. however, you must also understand, that most people posting here were in some way or another victimized by lou's companies, his employee's, or by lou himself. at minimum lou is guilty, not opinion but fact, of running several business ventures into the ground, either from poor planning, bad management, possible illecit activities, or all of the afore mentioned. in the circles of people that i have met that had worked for him through the years, several of these folks have told me stories (not proven) that would indicate that lou's practices could be viewed as questionable at best.
sure, this is america, and everyone should be given a chance, but i agree with others here that lou had a chance to straighten out this entire mess, and chose instead to HIDE in bali! consider that as well.
lastly, helen continue the good work! belated happy holidays/merry christmas and happy new year! also, best wishes for a better 2008 to all here that have lost so much.

wayne

Benjy

Get a life, we are not convicted Lou, Lou is convicted himself. Get with the program. it sounds like you are a Lou lover

How ridiculous. He was free for several months after this fiasco became public, until he was arrested. He chose to borrow more money to leave the US and cavort around Europe promoting his boy band, rather than stay here and help sort the mess out. He had an opportunity to gather "evidence" for his defense. If he already had evidence that would clear his name and clearly show that someone else concocted and ran the whole fiasco, he would not be sitting in jail awaiting and delaying a trial. There is no reason he can't aid in his defense from jail where he belongs.

-----------------
He should be free to prepare his defense.

Innocent til proven guilty, this whole blog has convicted him. You don't know what his defense is, he may blame one person and have evidence! A jury won't hear EVERYTHING so he does have a CHANCE of being found not guilty.

Posted by: Benjy | December 27, 2007 at 08:01 AM

Helen, please consider doing your readers and Pearlmans victims a real service to start the new year by putting pressure on those that facilitated this fraud, namely the people who profited by pushing it on average people, the Banks can absorb that kind of loss but the elderly and normal people who got brought in by people who Lou paid to solicit for him can't. Sure Lou ripped off the Bank but who got Mom and Pop into this thing? and are laughing all the way to the bank or back to their new houses while many victims loose their homes or maybe have to take a mortgage.

The other inmates can't think too well because Pearlman probably just defrauded them of their cigarette money.


"What will the other imnates think when they learn that Pearlman once owned Chippendales?"

What will the other imnates think when they learn that Pearlman once owned Chippendales?

Helen, please consider doing your readers and Pearlmans victims a real service to start the new year by putting pressure on those that facilitated this fraud, namely the state AG and the current Governor and the OFR that had letters out well in advance of closing this ponzi down-they knew and allowed others to come in for years so they could make their case. How about it?

Where can i buy a 'free lou' t-shirt lol.

BINGO!

GUILTY

40 YEAR JAILTIME


"I don't see how he'll get around creating a fake accounting firm with no CPAs to doctor up financials and slapping FDIC and Loyds of London logos on his brochures"

Yeah, he will try to blame a dead man who can't defend himself. That's his defense.

To chetv2- If you are planning to take the $3,000 capital loss, you can take it on your 2007 return. When to take a Section 165 loss is a murkier question. Here's a blog post addressing that issue:
blogs.tampabay.com/money/2007/11/when-can-you-cl.html
Helen

Yes, innocent until proven guilty. But that doesn't mean the law says he can't be held pending trial.

In general, before a trial, the law can hold people it considers to be a flight risk or who are charged with crimes that indicate they may be dangerous to society. Lou was found to be a flight risk because he was already overseas in Bali under an assumed name. he also has the resources to flee jurisdiction if freed.

The posters on the blog have opinions about his culpability - many think he is guilty. Everybody is entitled to their opinion. Many have lost their life savings and are understandibly hurt. All the information in the public eye seems to indicate that Lou is guilty, but maybe he will come up with evidence that will free him.

I don't see how he'll get around creating a fake accounting firm with no CPAs to doctor up financials and slapping FDIC and Loyds of London logos on his brochures, unless he can prove that he had no knowledge.

He should be free to prepare his defense.

Innocent til proven guilty, this whole blog has convicted him. You don't know what his defense is, he may blame one person and have evidence! A jury won't hear EVERYTHING so he does have a CHANCE of being found not guilty.

Helen;
Can we claim a loss up to 3,000 on our 2007 return or do we have to wait for a conviction please let us know.

This explains why Lou hasn't paid back his investors or the banks.

"Inmates are authorized to release no more than $500, twice per month. Exceptions will be made on a case-by-case basis only."

http://www.orangecountyfl.net/cms/BUSINESS/jail/InmateProperty.htm

He's just concerned that it will take 50,000 months to pay out the $500 million.

A more accurate comment would be that Pearlman will continue to be in jail for at least the next 40 years

oops, Pearlman forgot to wear his wig for the prison picture:


http://www.orangecountyfl.net/bailbond/default.asp?REDID={AD575B0E-5FA8-447E-B8CE-432A446BF855}&BookNumber=07031368&ID=5295676488061

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About This Blog

St. Petersburg Times personal finance editor Helen Huntley writes about money topics and answers questions about financial planning, investments and personal income taxes.

Helen has been following the Lou Pearlman/Trans Continental investment scam since December 2006. Read more about it in this special report and on this blog.

Looking for help with your income taxes? Check out this special report

E-mail questions to Helen Huntley:
hhuntley@sptimes.com.

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