Thursday, March 6, 2008

Plea Agreement Reached for Founder of Band

The founder of the Backstreet Boys, Lou Pearlman (see here), plead guilty to "two counts of conspiracy to commit an offense against the United States (Counts one and two), one count of money laundering (Count three), and one count of presenting or using a false claim in a bankruptcy proceeding (Count four)." (Plea Agreement here) The press release of the United States Attorney's Office for the Middle District of Florida notes that Pearlman will be cooperating with the government and will "help identify any assets that may be available for restitution to victims of his criminal conduct." In addition to providing restitution to victims, the plea also provides that he "is also required to forfeit to the United States immediately and voluntarily any and all assets and property."

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http://lawprofessors.typepad.com/whitecollarcrime_blog/2008/03/plea-agreement.html

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