Pearlman mansion auction bid rejected
Published March 9th, 2008
The lakefront mansion that once belonged to Lou Pearlman sold for $3.75 million at auction on Saturday.
But a short time after the auction ended, a representative of the U.S. Bankruptcy Court said the bid was too low and that it had to be at least $5.2 million.
Lou Pearlman, former manager of the Backstreet Boys and ‘N Sync, pleaded guilty Thursday in federal court to charges of fraud and conspiracy.
