Lou Pearlman Agrees To Repay $300 Million To Banks & Investors

The Associated Press reports that the price tag agreed to by Lou Pearlman and federal authorities in the former *NSYNC and Backstreet Boys manager’s bank and investor swindle is $300 million. U.S. District Judge G. Kendall Sharpe asked prosecutors and defense attorneys on Wednesday to amend court documents with the agreed amount, which will be difficult for the jailed Pearlman to pay with evidence the money he gained had seemingly gone with the collapse of his Ponzi scheme. The full story at cnn.com has since been removed.