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Total Bankruptcy
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Bankruptcy
Blogged date : 2007 Jun 18
Music Producer Lou Pearlman, who created the Backstreet Boys and ‘N Sync is being transferred from Guam to the continental United States to face federal bankruptcy charges. According to bankruptcy court documents,
Florida investigators allege that Pearlman defrauded more than 1,000 investors out of more than $315 million in a Ponzi scheme. Several banks say he owes them more than $120 million.