The record producer was convicted in 2008 for ripping investors off in a $300 million scam.
According to the inmate database of the US Federal Bureau of Prisons, Pearlman died on Friday, August 19, 2016, while serving time following a conviction for fraud.
CNN News reports that the record producer "had been serving a 25-year sentence at the Federal Correctional Institution in Texarkana, Texas, for running Ponzi and bank schemes."
The road ended for him in 2008 after being found guilty of ripping investors off in a $300 million scam.
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Pearlman gained music prominence in the mid 90's, for his role in fishing out Backstreet Boys and Nsync, which aided the emergence of Nick Carter and Justin Timberlake.
The latter was one of those who mourned the late producer in a Twitter comment he posted on Sunday, August 21, 2016.
Timberlake wrote, "I hope he found some peace. God bless and RIP, Lou Pearlman."