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Boy Band Czar Cuts a Deal

3/3/2008 10:50 PM PST BY TMZ STAFF

Lou PearlmanLou Pearlman, best known for his work with boy bands like the Backstreet Boys and 'N Sync, struck a plea deal in his federal bank fraud case and will work with prosecutors to help recover millions of dollars he is accused of stealing.

Pearlman allegedly defrauded banks out of more than $100 million and stole another $300 mil from investors. Psssh -- chump change!

He entered a not guilty plea last year, but will change his plea to guilty in a hearing scheduled for Thursday. As for jail time, that's for a judge to decide.

58 COMMENTS

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1.

Big Daddy    

Very interesting, thanks

2314 days ago
2.

thomaso    

gut that pig

2343 days ago
3.

appltini    

first

2343 days ago
4.

Todd Lee    

thats alot of friggin money, give him 10 years in prison so some dude can make him grab his ankles

2343 days ago
5.

Ali    

congrats ruggles- be careful they hate "first" people here.....:)

2343 days ago
6.

Lenn K.    

First, he couldn't grab his legs, secondly, is his head going to explode? Third, his ass has got to do some serious time.

2343 days ago
7.

I'll rent the DVD when it's done    

He's hot.

2343 days ago
8.

FlBiker    

That fat bastard used to live around the corner from me. His ex-house is like a pedophiles dream, volleyball court ,basketball,waterfall etc. Whatever he could do to get the boys outside and sweaty. Orlando politicians bent over hard for this con man.

2343 days ago
9.

JAMES    

ONLY IN AMERICA, CAN YOU STEAL ($ 400 MILLION), AND HAVE TO PAY BACK, ONLY A FEW MILLION. NOT TO MENTION RAPING YOUNG MEN IN THE PROCESS!!!

2343 days ago
10.

Michelle    

#3--Ali--no dear, we don't hate "first" people here---we feel sorry for them. We wonder why their lives are so boring that being "first" on TMZ is exciting to them. We wonder why they don't get a life, so it won't matter anymore.

2343 days ago
11.

stromhome    

Hey... is that KARL ROVE?!!!

2343 days ago
12.

FlBiker    

His picture could be used for a 'what they look like now' piece for Gummi Bear in 10 years.

2343 days ago
13.

Ali    

*brenda* LOL i think it is so funny that you shoud even care about it. i love it that it gets to you enough for you to post about it.....who doesn't have a life?

2343 days ago
14.

bradleybeagle    

i though it was spelled "tsar" or "tzar" not "czar" damn bastardization of English !!!

2343 days ago
15.

appltini    

Thanks for the heads up Ali!

2343 days ago
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