Boy band promoter to repay fraud victims
ORLANDO, Fla. (AP) - July 16, 2008 A federal judge on Wednesday asked lawyers to draw up the order
for his approval.
It's unclear whether the creator of the Backstreet Boys and 'N
Sync will be able to raise those funds while behind bars. He's
serving a 25-year sentence on federal fraud charges.
Prosecutors also wanted U.S District Judge G. Kendall Sharpe to
tack on interest, making the repayment $424 million. Pearlman's
defense says that's unfair because the money was never invested.
The judge said he'd make a decision after Pearlman returns at least
some of the principal.
So far investigators have recovered few assets remaining from
Pearlman's former entertainment empire.
