Lou Pearlman, creator of the Backstreet Boys, was plead guilty to four federal charges: two counts of conspiracy, and one each of money laundering, and using false statements in a bankruptcy proceeding. Lou does have the option of reducing his jail time. Judge G Kendall Sharp said that for ever $1 million Pearlman returns to investors, he’ll cut the sentence by one month.

Even if Lou had the money to buy his way out of jail, he’d probably rather get released a rich man, than a dirt poor convict.

Looks like Justin Timberlake and Nick Carter have something in common, Lou Pearlman, who has just been exposed as a pedophile by Page Six. Here’s a taste:

Mooney said he once asked Pearlman, who was known as "Big Poppa," what it would take for him to get into a band. "I’ll never forget this as long as I live. He leaned back in his chair, in his white terry cloth robe and white underwear, and spread his legs," Mooney told Burrough. "And then he said, and these were his exact words, ’You’re a smart boy. Figure it out.’

No comment from Justin who is busy bringing sexy back, and so is Lou, one massage at a time.