Top Pearlman Salesman Cuts Deal For Up To 16 Years

Law360, New York (October 18, 2010, 4:06 PM EDT) -- The highest-commissioned sales agent in incarcerated boy band impresario Lou Pearlman’s alleged $300 million Ponzi scheme has signed a plea deal that could send him to prison for up to 16 years.

Michael Crudele, who allegedly sold sham investment shares in Pearlman’s company Trans Continental Airlines Travel Service Inc. from 1994 through 2006 – even though the company ceased to exist in 1999 – will plead guilty to one count of transporting money and securities gained by fraud across state lines and two counts of lying...
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