The life story of Lou Pearlman, the former multiplatinum boy band manager-turned-convicted felon, is getting the movie treatment. John Stamos, Desmond Child and Andreas Carlsson have acquired the rights to Tyler Gray’s 2008 book The Hit Charade: Lou Pearlman, Boy Bands, and the Biggest Ponzi Scheme in U.S. History and will serve as producers of the film, which is in the early development stage.

This comes just weeks after news spread that a limited series about Pearlman was in the works. It will be based on an article in The New Yorker to which Magnet Management and Condé Nast has secured.  The article, headlined, “We Live in the Pop-Culture World That Lou Pearlman Created,” details Pearlman’s rise from a blimp-business owner to one of the music industry’s most successful moguls and then to his eventual downfall.

Pearlman, who is responsible for developing such boy band sensations as Backstreet Boys and *NSYNC, died last month of undisclosed causes while serving a 25-year prison term for running a complex Ponzi scheme for nearly two decades.