COPY-Boy band mogul Lou Pearlman arrested in Indonesia - Fox29 WFLX TV, West Palm Beach, FL-news & weather

COPY-Boy band mogul Lou Pearlman arrested in Indonesia

Associated Press - June 14, 2007 11:54 AM ET

ORLANDO, Fla. (AP) - Boy band mogul Lou Pearlman was arrested in an Indonesian hotel early this morning.

Authorities say he has been turned over to US law enforcement officials and flown to Guam to appear before a judge there.

Pearlman is charged with one felony count of bank fraud.

The US Attorney's Office in Tampa expects him to be returned to Florida.

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. Court documents show that banks are hounding him and his companies for more than $120 million.

Pearlman conjured multi-platinum success by piecing together boy bands such as the Backstreet Boys and 'N Sync in the 1990s.

He hadn't been seen or heard from in months, nor had he responded to multiple subpoenas.

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 This material may not be published, broadcast, rewritten or redistributed.

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