EXCLUSIVE: John Stamos On Developing Lou Pearlman Biopic: 'It's a Fascinating Story'

The 'Fuller House' star opened up to ET about the pic he's 'shopping around' about the 'deplorable' music mogul.

John Stamos is looking to bring the complicated and troubled life of late record producer Lou Pearlman to the small screen for a mini-series examining the turbulent and controversial career of the businessman turned music mogul.

Stamos was part of a production team that bought the rights to The Hit Charade: Lou Pearlman, Boy Bands, and the Biggest Ponzi Scheme in U.S. History, and the Fuller House star said it's a project he's been "shopping around" for quite a while.

"I've had it for a long time actually. And then he just died and so it made the news again," Stamos, 53, told ET correspondent Elvis Duran at the iHeartRadio Music Festival in Las Vegas, Nevada on Saturday. "It's a very difficult sell."

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Pearlman gained fame in the entertainment industry as a music mogul, organizing and developing the careers of boybands like *NSYNC and the Backstreet Boys, among many other hit artists.

After a few years, he was eventually sued by nearly every musician he'd ever managed and was accused of orchestrating a multi-million dollar Ponzi scheme. After evading authorities, Pearlman was eventually caught and sentenced to 25 years in prison on charges of money laundering and making false statements during a bankruptcy proceeding, among others.

Pearlman died of a heart attack in August at the age of 62 while still incarcerated at the Federal Correctional Institution in Miami, Florida.

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"He was a deplorable human," Stamos admitted, "but he was, you know, P.T. Barnham. I mean, he was the first one to put bands together. It was before American Idol when he was doing that. So it's a fascinating story and, of course, there's the $500 million dollar Ponzi scheme involved in it."

Stamos, who said that he thought the story would work best as a mini-series, shared his idea for how to tell the grand tale, explaining, "I think it's best through one of his assistant's eyes… but there's so many different ways to tell the complicated story of this man and the music."

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As for casting Pearlman, Stamos explained that he originally wanted Philip Seymour Hoffman for the role. However, after the Oscar winner's death in February 2014, he was forced to move in a different direction.

"We talked to Zach Galifianakis for a little bit," Stamos revealed, adding that the project is "just heating up again," in the wake of Pearlman's death.

For more on the life and death of the embattled music manager, watch the video below.