Last updated: Tuesday, June 19, 2007
PEARLMAN AGREES TO FLORIDA TRANSFER
LATEST: Troubled boy band svengali LOU PEARLMAN has agreed to be transferred from the U.S. territory of Guam to Florida to face a federal bankruptcy charge.
The 53-year-old, who created Backstreet Boys and 'N Sync, was apprehended by the Federal Bureau Of Investigation (FBI) in Bali, Indonesia last week (ends15Jun07) after five months on the run.
The FBI brought Pearlman to Guam in the Pacific after he was expelled from Indonesia, whose authorities had dubbed him "an undesirable visitor".
Pearlman was remanded to custody in Guam yesterday (18Jun07) by Chief Justice Frances Tydingco-Gatewood until he is transferred to Florida.
David Smith, the FBI's assistant legal attache in Indonesia's capital Jakarta, told the Guam court, "It's my understanding from the case agent there's over $500 million at the time allegedly defrauded from 200 plus investors."
A lawsuit filed in Florida alleges Pearlman manage to secure bank loans of $20 million (GBP10 million) using papers from a fictional accounting firm.
Pearlman's assets have been liquidated through two bankruptcy cases against him, but he is yet to respond to any court actions.
Speaking in court yesterday, Pearlman claimed he was ignorant of his recent status as a wanted man, saying, "I had no idea there was ever an arrest warrant."
Source: WENN
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