Former boy band mogul pleads guilty to £125 million scam

Lou Pearlman, the music mogul responsible for the careers of *NSYNC and Backstreet Boys, is set to plead guilty to fraud charges of $300 million (£152 million) at a court case in Florida, US tomorrow (March 6).

Pearlman, who made his name in the 1990s by putting together the American boy bands, is set to admit responsibility for defrauding investors and banks over the past two decades.

Pearlman is expected to plead guilty to a number of charges of conspiracy, money laundering and making false statements during a hearing.

He has previously fought court cases against *NSYNC and Backstreet Boys over claims he took money from them. Both cases were settled out of court, reports BBC News.