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Boy band mogul admits $300m fraud
Lou Pearlman will help investigators prosecute his accomplices |
Lou Pearlman, the man behind boy bands ‘N Sync and the Backstreet Boys, is set to plead guilty to a $300m (£152m) fraud scheme, prosecutors have said. In a plea agreement, the music mogul has admitted running scams that defrauded investors and major banks for more than 20 years.