Boy-band mogul Lou Pearlman was arrested in an Indonesian hotel early Thursday, turned over to U.S. law enforcement officials and flown to Guam to appear before a judge there, authorities said.
Pearlman was charged with one felony count of bank fraud.
"We expect that he will be returned to Florida," said Steve Cole, a spokesman for the U.S. Attorney's Office in Tampa.
Pearlman allegedly defrauded about 1,000 investors of more than $315 million by selling for years a bogus savings account plan, then using their money to cover his losses in other businesses. Banks are hounding him and his companies for more than $120 million, according to court documents.
Pearlman conjured multi-platinum success by piecing together boy bands such as the Backstreet Boys and 'N Sync in the 1990s.
Arrest his ass ASAP. Not for fraud, but for creating "The Backstreet Boys" that was an injustice to us ALL!!! Seem this Fat Bastard has yet to respond to subpoenas stemming from ripping off backstreet and Nsync for millions. His punishment should be to pay the public reparations for the insufferable damage caused by listening to horrible Pop music! Put him in the cell with Paris..that is a fate worse than death.
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