Fat Bastard himself, Lou Pearlman, struck a plea deal with prosecutors Monday morning in his federal bank fraud case.
The man behind the Backstreet Boys and N’Sync, is changing his plea to GUILTY this coming Thursday.
He initially proclaimed his innocence.
The Feds say he defrauded banks out of more than $100 million.
Pearlman is also suspected of stealing another $300 million from investors. The fraud victims want the shady Pearlman to tell prosecutors where their money is stashed.
When Pearlman’s public defender was asked if a revelation of the $300 mil was part of the plea bargain he cryptically responded, “The plea will result in a resolution of the case.”
We hope the Feds have a strong case against Pearlman and that the people he victimized won’t get screwed!
Sentencing won’t be for a while, but Louella needs to go a way for a long long time.