A couple of updates on Lou Pearlman and credit cards

The Chicago Tribune, which has MB Financial and investor David Mathis as hometown victims, is catching up with the Pearlman story with this report.

Also, last week I wrote about proposals to rein in credit card abuses. Here are some comments that Tampa Bay residents sent to the Federal Reserve about the issues. You can submit your own comment here. If you want to read more about the Federal Reserve proposal, go here.

Comments

More drivel to obscure the Defrawy suit entries.

Julian do you pay LP's commissary bills? You are one who would benefit, Life Insurance, what a great investment you made.

Thank you for answering my questions. Really thanks

I believe he has money somewhere, it does not make sense, unless he is expecting a pardon.

What about the money from the bands, he made a ton off them. How could he travel and stay at the finest resorts without money? How could he have the number 1 band in Germany and not have money? How could he sustain in other countries if he had not been caught, he was not living like a broke person to me.

What about all the money he made off the bands too. It is so much money? How was he traveling everywhere and living in a resort hotels without money? How could he have kept it up if he were broke? He had the top band in Germany or somewhere, they had to be making money?

True, to layer money you have to have it, which pretty much convinces me there isn't any. The public and the banks were his personal piggy bank. What a circus..entertaining public officials and schmoozing the banks that made money off him.

Is this where the inner circle come in and who are they?

To layer money you have to have money.

People on top of people how does that work with a trail?

Layer if verb would indicate money on top of money?

Does the money change hands the second the criminal is caught? Isn't the criminal the one in control of the money since he took it?

I don't understand how can it be layered and they don't even know where it is. Especially LP. Is this a contingency plan for criminals, how does it work. Maybe an example would help, thank you for taking your time.

Criminals know if caught, they plan for money to be layered so even they don't know where it could be. Co-conspirators.

Layer the money out of reach, why would it be out of reach to the FEDS?

Preplanned events such as?

Has the conference call dial in information for the creditors committee conference call been leaked??

Maybe you could find the money for the people, please. How could it all be spent? I don't understand.

Thank you for all that you have done.

Am grateful as well for all those prosecuting Lou Pearlman and his criminal associates. When this is finished and written, it will be remembered for justice achieved, we all hope. If Pearlman hid or spent the money, that is the best we can hope for.
Some fiction novels talk about when a fraudster is captured, certain preplanned events kick in that layer the money out of reach even if the perpetrator wants to make restitution. This could be true for Pearlman. Most believe the money just floated an elaborate silly life style. Hopefully we all get closure via a well prosecuted case, and can get on with the business of securing our futures.

I am thrilled they got LP he could be any place spending our money, at least they got him and he is paying for his crime thanks to a tourist and FBI. Did it ever occur to you that he did all, he said he did right but he does not tell the truth so who knows. I am grateful to Feds for what they have done.

Alright people time to pull Micky Mouse off the case and send Donald Duck in.

Tell us about it, who else got rich off the money?

GM is not the only person that became very rich.

[Helen Huntley]

The restitution hearing is still on for July 16th. At least that's the way it stands now.
Helen

Lou has been sentenced, we don't even know who did things? Who made fake documents, who wired money out of the country, who was GM and Tolner to this, who set up fake accounting firm, who did what? Where was the breakdown?

GM what kind of cars did the innocent buy for you and your family?

GM your house must be real nice too? Why don't you tell us about it, we already know you have a computer ok.

GM are you and your family enjoying the bus? Did you ever think of how much sweat went into your lifestyle. Innocent people who worked and saved their entire lives. I want to know why you have our money? You must know something that could help these people?

what do you want to talk about?

[Babs]

Just received word the July 16th hearing is rescheduled for August 7th 2008.
Let's get back to an informational line of communcation.
All of these comments have been very depressing and certaintly not informative.

[SweetSam]

Did you hear GM had a "freedom" party last weekend?.. Has to much on Lou and the young boys. Lou will not rat him out..

You should go see you money in action... that nice $500,000 bus parked outside.

Read Lonesome Town: The Real Story of "America's Favorite Family.. you can find it on Amazon. Or just read one review in particular.

If Lou paid him all the money then he has our money, right.

I was looking for that Bio on Greg McDonald today, can you repost or let me know where it is? Thank you

Spot on is to Jeff

Spot on you were the best, you give us help by your presence.

[jeff]

what we do not need are more attorneys

[jeff]

I am find, just trying to give compliments to the people that deserve it. So many negative people on here, it is always good to see someone that is working hard for the investors

I think when the list becomes public there will be many attorneys happy to represent us.

Who pays for Lou's commissary bill, is it still Tammie?

Who do you think the perv is?

jeff, whats up?

[jeff]

David Mathis, your long hard work on the unsecured creditors committee is well appreciated. I agree with the article that we will never see .01 on the dollar for our investment, unless a big lump sum is found. Any small collections will all go to the attornys. Keep up the good work and it's never over until Soneet declares that it's over

When it becomes a benefit to him, I'm sure. He could probable ask his old talent to send photo's signed to sell or favor, to the other inmates. If placing LP in the next type of housing are we sending him to a candy store?

When will Pearlman start talking about the details of his life?