-
Subscribe to andPOP News Headlines-
Add the andPOP Facebook Application(andPOP) - Boy-band impresario LOU PEARLMAN is being sued for more than $130 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 in Orlando, Florida Circuit Court by Bank of America, alleges Pearlman defaulted on business and personal loans worth more than $17 million.
A week earlier, the same bank filed a mortgage-foreclosure suit seeking more than $25 million.
According to the Orlando Sentinel newspaper, a judge recently ordered Pearlman to pay $33 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."
(c) 2007 WORLD ENTERTAINMENT NEWS NETWORK LTD. All global rights reserved. No unauthorized copying or re-distributing permitted.
