music · 05 March 2008 · 16 years ago
Lou Pearlman, the man behind boy bands 'N Sync and the Backstreet Boys was set to plead guilty to a $300m (£152m) fraud scheme. The music mogul admitted to a court in Florida of running scams that defrauded investors and major banks for more than 20 years. The charges carried a maximum of 25 years in prison and a $1m (£506,000) fine.
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