June 15th, 2007
No, he wasn’t arrested for that. He was arrested for bank fraud.
Pearlman, the man who created the Backstreet Boys, O Town and N Sync, owes in excess of $120 million and was found hiding out in Indonesia after he sent a letter to a Florida attorney that included his return address. (Really, Lou.). Once the FBI alerted Indonesian authorities to his whereabouts, he was deemed an “undesirable visitor” and tossed out of the country. He was taken into custody in Bali and is now imprisoned in Guam. (Lordy, he gets around.)
Pearlman allegedly defrauded about 1,000 people out of $315 million by pedaling a bogus investment plan. Wasn’t the boy band business lucrative enough?
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