On May 21, 2008 Pearlman was sentenced to 25 years in federal prison after pleading guilty to charges of conspiracy, money laundering and making false statements during a bankruptcy proceeding. As a provision of his sentencing the Judge has granted “Big Poppa” an intermediary sanction allowing Jobba the Hut I mean Pearlman to reduce his sentence by one month for every $1m returned to investors. Is that ludicrous or is it just me? Pearlman was said to have pilfered about $300 million from investors and banks. If my mutiplication serves correct 25 years * 12 months = 300 months at $1m per month that is a total of $300m for Pearlman to shake the hook. While restitution is served, there is no punishment? No deterrent for him or others to do this again, where is the justice? All he has to do is return the money? What happens when someone robs a bank or steals an old lady’s purse do they just get to return the property with no punishment? Not likely. And what about the little old lady’s money that could have been earning interest in savings or allocated in some other gainful investment. At least we know he’ll have to serve some of the sentence considering he ate most if not all of that $300mil.
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