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.