Boy Band Creator is Guilty
March 7th, 2008 by Hannah
The man behind the boy band phenomena of the late 90s Lou Pearlman struck a plea deal with prosecutors on Monday morning in his federal bank fraud case. He has changed his plea to guilty on Thursday after initially proclaiming his innocence to allegations of defrauding banks out of more than $100 million. He is also suspected of stealing another $300 million from investors making it understandable why fraud victims want Pearlman to reveal where their money is stashed. Sentencing won’t be for a while but I have no doubt that he’s going to the slammer for a good long while.
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