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Former Backstreet Boys and *NSYNC manager Lou Pearlman has struck a plea deal in his fraud case in Orlando.

Pearlman, who reportedly defrauded banks to the tune of $120 million and has stolen around $315 from over 1,000 investors, who are anxious to find out if he has the money hidden somewhere.

Pearlman has now agreed to participate in the recovery of assets and will please guilty to bank fraud. A judge will then decide how much jail time he serves.

Backstreet Boys lawyer Clay Townsend says Pearlman owes the band over $4 million.

He was arrested in a hotel in Indonesia in June 2007 and is currently in jail.

--By our New York staff.
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Date/Time	Venue	Town/City	Seetickets	Viagogo
Apr 23, 2012 19:30	Liverpool Echo Arena	Liverpool	Buy Backstreet Boys Tickets from £45
Apr 24, 2012 19:30	Manchester Evening News Arena	Manchester	Buy Backstreet Boys Tickets from £45
Apr 24, 2012 19:30	Manchester Arena	Manchester	Buy Backstreet Boys Tickets from £45
Apr 26, 2012 19:30	Newcastle Metro Radio Arena	Newcastle	Buy Backstreet Boys Tickets from £45
Apr 27, 2012 19:30	Lg Arena, The Nec	Birmingham	Buy Backstreet Boys Tickets from £45
Apr 28, 2012 19:30	The O2	London	Buy Backstreet Boys Tickets