Tony_Balony
Joined: 12 Apr 2007
|
 Posted: Wed Mar 05, 2008 6:25 am Post subject: Fitting!!! BSB Daddy goes down! |
 |
|
| Quote: |
Boy band creator agrees to plead guilty to money laundering
* Story Highlights
* Lou Pearlman will plead guilty to money laundering and making false statements
* Attorneys say he lied to investors to raise millions for fake companies
* Prosecutors say the total loss to investors is more than $300 million
* The creator of Backstreet Boys and 'N Sync to appear in court Thursday
ORLANDO, Florida (AP) -- The creator of the Backstreet Boys and 'N Sync has agreed to plead guilty to charges he laundered money and made false statements during a bankruptcy proceeding.
Boy band creator Lou Pearlman has agreed to plead guilty to money laundering and making false statements.
Lou Pearlman will appear in court Thursday, according to a 47-page plea agreement released Tuesday.
Federal prosecutors accuse Pearlman of lying to investors to raise millions of dollars for fake companies.
They say the total loss to investors is estimated at more than $300 million.
The plea deal says Pearlman will help investigators develop cases and testify against others who helped in his schemes.
Federal prosecutors still plan to seek a significant prison sentence for Pearlman. |
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
