Lou Pearlman’s fate to be decided today

Former Backstreet Boys*NSYNC manager Lou Pearlman will be sentenced today in Florida on four federal charges.

Pearlman pleaded guilty in March to defrauding banks out of $120 million and stole a further $315 million from over 1,000 investors.

The former music mogul agreed to help in the recovery of assets, which include $4 million owed to his former clients the Backstreet Boys.

Pearlman faces $1 million in fines and 25 years in prison for conspiracy, money laundering and using false statements.

He once managed Justin Timberlake’s former band *NSYNC, and fled the US after his long-term fraudulent activities were exposed. He was arrested in Indonesia last year.

–By our New York staff.

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