Bankruptcy Court Decides Not To Sell Lou Pearlman's Mansion
Thursday, March 13, 2008 – updated: 12:27 pm EDT March 13, 2008
The bankruptcy court will not try to sell former music mogul Lou Pearlman’s Windermere mansion, Eyewitness News learned Thursday. Instead, they'll just let the bank foreclose on it.
READ: Pearlman Case 47-Page Plea Agreement (PDF file)
ARCHIVE: Previous Reports Involving Lou Pearlman
Pearlman still owes $5.8 million on the mansion and the court doesn't think they can get that much money from a buyer. They also found three-quarters of a million dollars Pearlman invested in an Israeli research company. They'll get that money back to Pearlman’s victims.Pearlman, though, still isn't helping the court find his other assets.
READ: Pearlman Case 47-Page Plea Agreement (PDF file)ARCHIVE: Previous Reports Involving Lou PearlmanPearlman still owes $5.8 million on the mansion and the court doesn't think they can get that much money from a buyer. They also found three-quarters of a million dollars Pearlman invested in an Israeli research company. They'll get that money back to Pearlman’s victims.Pearlman, though, still isn't helping the court find his other assets.
Previous Stories:
- March 6, 2008: Boy Band Mogul Pearlman Pleads Guilty, Awaits Sentencing
- March 6, 2008: Accused Con-Man Lou Pearlman To Help Investigators Recover Money
- March 4, 2008: Polygraph May Decide What Kind Of Punishment Lou Pearlman Gets
- March 3, 2008: Lou Pearlman Changes Mind, Expected To Plead Guilty
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