A former boy band mogul pleaded guilty on Thursday to an audacious fraud that used fake accountants, fake bank accounts and a dead man's signature to swindle banks and investors out of more than $300 million.
Lou Pearlman, known for launching the Backstreet Boys and 'N Sync, took a plea deal in a US court in Orlando on two counts of conspiracy involving bank and investor fraud, one of money laundering and one of making false claims in a bankruptcy.