A range of Backstreet Boys and *Nsync memorabilia is going under the hammer as the assets of one time boy band impresario and MTV star Lou Pearlman get sold off to repay banks, who he allegedly owes over $130 million, and over 1000 investors who he allegedly defrauded of $317 million.
As previously reported, the recent adventures of Pearlman are proving much more entertaining than any of the pop products he manufactured back in the nineties. Having lost much of his pop empire following a string of disputes with the artists he once managed, Pearlman was last year accused of heading up an elaborate pyramid scheme that allegedly defrauded over 1000 Americans, mainly senior citizens, out of their life savings. As the pyramid scheme con unraveled, and with the FBI keen to talk to the former boy band chief, Pearlman went on he run. As authorities moved to liquidate his assets back in April Pearlman's whereabouts was unknown, though he was reportedly touring mainland Europe with a new boy band creation.
Items being auctioned this week include framed posters of the bands he managed, gold and platinum records, album artwork and the key to the city of Orlando.