COPY-Pearlman charged in 5-count indictment - Fox29 WFLX TV, West Palm Beach, FL-news & weather

COPY-Pearlman charged in 5-count indictment

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Associated Press - June 28, 2007 8:14 AM ET

ORLANDO, Fla. (AP) - The creator of the Backstreet Boys and 'N Sync is expected to return to Florida soon after being indicted on charges he defrauded a bank out of $20 million.

Court documents show Lou Pearlman was indicted yesterday by a federal grand jury on three counts of bank fraud, and single counts of mail and wire fraud for business he did with an Indiana-based bank.

Pearlman is most famous for forming boy bands in the '90s. He was also involved in airplane charter, real estate, model scouting and restaurant ventures. He's accused of fraudulently securing millions in bank loans with documents from a fake accounting firm.

Pearlman was arrested in Indonesia earlier this month. He was expelled from Bali after the FBI contacted authorities there, then he was transferred to US custody and flown to Guam. Pearlman was flown to Los Angeles, and federal authorities say he should be in Florida in about two weeks.

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 This material may not be published, broadcast, rewritten or redistributed.

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