Boy band mogul Lou Pearlman, who launched Backstreet Boys and 'N Sync, was sentenced to 25 years in prison on Wednesday for swindling investors and major U.S. banks out of more than $300 million.

But U.S. District Judge G. Kendall Sharp gave Pearlman the chance to cut his prison time by offering a one-month reprieve for every $1 million in cash he helps a bankruptcy trustee recover for his victims.

Theoretically, Pearlman could cancel his entire 300-month sentence by repaying the $300 million debt.

His lawyer, Fletcher Peacock, said in a written plea that 25 years amounted to a "sentence to death in prison" for the 53-year-old impresario who lived a jet-set life of mansions and luxury cars before the fraud scheme collapsed.

In an audacious two-decade scam, Pearlman admitted in his plea agreement to enticing individuals and banks to invest millions of dollars in two companies which existed only on paper -- Transcontinental Airlines Travel Services Inc and Transcontinental Airlines Inc.

He won investors' confidence with fake financial statements created by a fictitious accounting firm.

During sentencing, Sharp held up a book with letters from Pearlman's victims, saying they included "his family, his close friends and people in their 70s and 80s who have lost their life savings."

"So the sympathy factor doesn't run high with the court," the judge said.

The US Supreme Court denied certiorari Monday in Demjanjuk v. Mukasey, ending the appeals process of a deportation order for accused former Nazi concentration camp guard and Ohio resident John Demjanjuk. Demjanjuk, twice stripped of his US citizenship, had argued that the immigration judge who ordered his deportation lacked the authority to do so. Demajanjuk was appealing a 2005 ruling by then-US Chief Immigration Judge Michael Creppy ordering his deportation. Demjanjuk had previously lost an appeal to the Board of Immigration Appeals. The US Sixth Circuit Court of Appeals denied Demjanjuk's petition for review in January.

Demjanjuk is suspected of being "Ivan the Terrible," an infamously brutal guard at Poland's Treblinka death camp during World War II. Demjanjuk has argued that the accusation is based on mistaken identity. The case dates back to 1977, when the Justice Department originally asked for Demjanjuk's citizenship to be revoked. He was extradited to Israel and sentenced to death for war crimes, but the Israeli Supreme Court overturned the conviction in 1993 and he returned to the US. In 2002, Demjanjuk again lost his US citizenship after a judge found that World War II evidence showed he worked in the Nazi concentration camps.