Court Report

Boy Band Mogul Pearlman Pleads Guilty

ORLANDO, Fla. (AP) - For years, Lou Pearlman wowed banks and investors with slick talk and a lavish lifestyle. But when the one-time architect of the Backstreet Boys and 'N Sync set his hand on a courtroom Bible, he set the act aside. Pearlman pleaded guilty Thursday to federal charges of conspiracy, money laundering and making false statements during a bankruptcy proceeding. The plea was the result of a lengthy federal probe alleging he bilked investors and banks out of more than $300 million. Read more...


Posted by Webmaster at March 8, 2008 03:16 AM