Jun 15, 2007 • 1 min read

Boyband mogul no longer on the run

Former boyband mogul Lou Pearlman, behind the Backstreet Boys and *NSYNC, has been found in Indonesia and handed to the FBI to face bank fraud charges over an alleged pyramid scheme.

So, as his assets are sold off in New York to pay off his creditors, former boy band mogul Lou Pearlman, the man behind the Backstreet Boys and *Nsync, is out of hiding. As previously reported, Pearlman has been on the run from the FBI ever since his most recent business venture, what was in essence an elaborate pyramid scheme, began to untangle, leaving over a 1000 investors out of pocket. He was last seen promoting a new boy band in Europe, but was found in Indonesia earlier this week. Officials their expelled him and turned him over to the Feds, who have now taken him to the US controlled Pacific island of Guam where he will face criminal charges for bank fraud. In addition to the criminal charges, Pearlman is also facing a number of civil lawsuits and a bankruptcy case. It is expected he'll be taken back to home state Florida once charged, where he can catch up on all that litigation. I bet he wishes he'd stayed on better terms with all his former boy band clients, he could do with some rich supporters just now.

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