COPY-Boy band mogul's stuff to be sold to pay creditors - Fox29 WFLX TV, West Palm Beach, FL-news & weather

COPY-Boy band mogul's stuff to be sold to pay creditors

Associated Press - June 12, 2007 6:04 AM ET

ORLANDO (AP) - The man who created the Backstreet Boys and 'N Sync was once on top of the world. Now he's disappeared and authorities are selling all his stuff.

Lou Pearlman's belongings are going on the auction block today to compensate banks he allegedly owes more than $130 million to and about a thousand investors he allegedly defrauded of $317 million.

The auction will be at Pearlman's office and warehouses in Orlando.

The items for sale include gold and platinum records, framed posters of the Backstreet Boys and Aaron Carter, and other memorabilia. It also will include the gold key to the city he was once awarded, three vans, restaurant equipment, file cabinets and airplane parts.

Authorities say they don't know where Pearlman is.

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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