Boy Band Creator A Fraud

03/05/2008
. (AP) Lou Pearlman is now not only guilty of foisting crap boy bands on the world, he is guilty of shady business deals. Which some could argue is the same principle at work. Reuters has the story: Lou Pearlman, the music mogul who launched the Backstreet Boys and 'N Sync, has agreed to plead guilty and make restitution to victims swindled out of an estimated $300 million in phony bank and investment schemes, U.S. prosecutors said on Tuesday.

Pearlman admitted in a plea agreement that for 20 years he enticed people and banks to invest millions of dollars in two companies that existed only on paper: Transcontinental Airlines Travel Services Inc. and Transcontinental Airlines Inc.

Pearlman is scheduled to enter his plea on Thursday in a U.S. court in Orlando. The charges carry a maximum of 25 years in prison and a $1 million fine. - more on this story

Preview and Purchase Backstreet Boys CDs

Backstreet Boys MP3 Downloads

.

Day In Rock

Eagles Extend Sphere Las Vegas Residency Further Into 2025- Sammy Hagar Reveals His Alex Van Halen Wish- Orianthi Reuniting With Alice Cooper- more

Linkin Park Tops The Charts Across The World With 'From Zero'- Sammy Hagar Plans To Change Things Up With Las Vegas Residency- more

Day In Country

Thomas Rhett Scores His 23rd No. 1 With 'Beautiful As You'- Brooks & Dunn Reboot With CMA Honor and New Album- more

Reviews

Holiday Gift Guide: Books and Records for Kids

On The Record: The dB's- Rick Monroe and the Hitmen- Atlas Maior- Stoned Jesus

Hot In The City: Lou Malnati's Pizzeria Opens in Surprise, Arizona

What's Doing With Dave Koz? Christmas Carols and Cool Cruises!

On The Record: Craft Recordings Announces Record Store Day Exclusives