August 21, 2016 11:17 AM EDT

Lou Pearlman, known for forming and managing 1990s boy bands Backstreet Boys and NSYNC, died Friday at the age of 62.

Pearlman died in prison where he had been serving a 25 year prison sentence since 2008 after he was found guilty over defrauding investors out of $300 million in a Ponzi scheme.

Inspired by the success of New Kids on the Block, Pearlman brought the Backstreet Boys together in 1993 and *NSYNC in 1995. Both boy bands found huge success — the Backstreet Boys sold 130 million records and *NSYNC sold more than 55 million.

On Sunday, former NSYNC member Justin Timberlake wrote on Twitter, “I hope he found some peace. God bless and RIP, Lou Pearlman.”

Other former NSYNC colleagues weighed in. Lance Bass wrote, “He might not have been a stand up businessman, but I wouldn’t be doing what I love today [without] his influence. RIP Lou.”

Chris Kirkpatrick wrote, “Mixed emotions right now, but RIP Lou Pearlman.”

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