LOU PEARLMAN - BOY BAND FOUNDER SUED FOR MILLIONS

Boy-band impresario LOU PEARLMAN is being sued for more than $130 million (GBP67 million) by creditors and investors for failing to pay his bills. Pearlman, who created such groups as the BACKSTREET BOYS, 'N SYNC and US-5, has been the subject of several recent lawsuits. The latest case, filed Thursday (01FEB07) in Orlando, Florida Circuit Court by Bank of America, alleges Pearlman defaulted on business and personal loans worth more than $17 million (GBP9 million). A week earlier, the same bank filed a mortgage-foreclosure suit seeking more than $25 million (GBP13 million). According to the Orlando Sentinel newspaper, a judge recently ordered Pearlman to pay $33 million (GBP17 million) on previous lawsuits against him. Pearlman has blamed the spate of court cases on people trying to cash in on his success saying, "I know a lot of people come at me, as a deep-pockets theory. "The more success you get, the more lawsuits, unfortunately."

03/02/2007 01:27