Lou Pearlman, the impresario who formed the Backstreet Boys and N’ Sync, has been arrested and has agreed to return to Florida to face federal bankruptcy charges, according to law enforcement officials.
Pearlman, 53, was arrested in Indonesia last week on one count of bank fraud. He was expelled from the resort island of Bali after the FBI contacted authorities there, then transferred to U.S. custody and flown to Guam.
Deputy U.S. Marshal Jimmy Disbrow said Lou Pearlman would be transported from Guam within 10 days “” probably to Hawaii or California. From there, Disbrow said, it could take two or three weeks before Pearlman arrives in Florida.
The former music mogul is accused of fraudulently securing nearly $20 million in bank loans with documents from a made-up accounting firm. The criminal complaint against him was filed in March and unsealed last week after authorities found him.
Pearlman ignored court actions against him for months as all of his assets were liquidated in two bankruptcy cases against him and his companies.
Florida investigators separately accuse Pearlman of bilking more than 1,000 individual investors out of more than $315 million in a long-running Ponzi scheme. Several banks say he collectively owes them more than $120 million, according to bankruptcy court documents.
MusicVixen says...
You can run, but you can't hide.
