Bankruptcy court orders auction of alleged investment fraud fugitive, and one-time Boyband Svengali Lou Pearlman's possessions. 20 year-old Florida Real Estate Investor, Shastine Pavao, was on the spot to pick up valuable boyband memorabilia, and places a bid on Lou Pearlman's 12.5 million dollar suburban home.
Orlando, FL (PRWEB) June 15, 2007 -- Lou Pearlman's personal possessions were up for grabs at a bankruptcy court-ordered auction held at his downtown Church Street office - drawing a considerable crowd of investors and curious onlookers. One young entrepreneur in particular was at hand to get several highly sought-after pieces of memorabilia - and her investment firm has its eyes on Lou Pearlman's $12.5 million dollar home as well.
Among the unique items obtained by Shastine Pavao, a successful real estate investor and N'Sync fan were: an RIAA certified multi-platinum sales award for the N'Sync album; an RIAA certified platinum sales awarded given to the Backstreet Boys; and a certified Canadian Gold award presented to O-town, for achieving over 1 million units sold in Canada.
Shastine Pavao, President of http://www.JpsInvestmentsGroup.com attended the auction and snagged several choice items from Lou Pearlman's personal collection. Shastine's company is a thriving Florida-based real estate investment firm and is currently bidding to purchase Lou Pearlman's home at auction. Shastine is not only a savvy businesswoman; she is also a music fan and certainly knows a good deal when she sees one.
True to her entrepreneurial pedigree, Shastine recognizes the collectible value of the items she acquired at the auction, but confides she may struggle to decide which items to place on open auction, and which to keep in her personal collection. The items currently on Ebay can be viewed at http://www.LouPearlmanAuction.net.
When contacted, Ms. Pavao mentioned she happened to live right down the street from Lou Pearlman's mansion in Windermere -- and she had a chance to meet several boyband members over the years as well.
According to OrlandoSentinel.com, Lou Pearlman, creator of N'Sync and The Backstreet Boys, allegedly defrauded over 1800 investors in one of the largest investment fraud schemes in Florida history. The Orlando Sentinel also reported Mr. Pearlman was arrested in Indonesia recently after being on the run since late January.
Several highly collectible pieces of music memorabilia from Lou Pearlman's personal collection are expected to appear on the market within the next few days. N'Sync and Backstreet Boys fans will surely be on high-alert all around the country - even around the world.
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