No Bail for Pearlman: Update

A federal judge ordered Lou Pearlman, creator of the Backstreet Boys and 'N Sync to remain in custody while attorneys prepare his case, because the U.S. Attorney's office opposed bail for Pearlman saying he was a "serious flight risk."^[1] Pearlman faces charges of defrauding a bank out of $20 million, and will be represented by the federal public defender's office.^[2]

Pearlman was escorted by federal marshals from Los Angeles to Orlando on Tuesday.^[3] Since his arrest in Indonesia last month, he has been expelled from Bali after the FBI contacted authorities there, then transferred to U.S. custody and flown to Guam, and later to Los Angeles.^[4]

He was indicted on three counts of bank fraud and single counts of mail and wire fraud for business he did with an Indiana-based Integra Bank N.A., and he has been accused of fraudulently securing millions in bank loans with documents from a fake accounting firm.^[5]

Florida investigators separately allege that he defrauded more than 1,000 individual investors out of more than $315 million.^[6]

We have previously discussed this case here.
We have previously discussed bank fraud, here.

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^[1] AP Staff, Boy band mogul Lou Pearlman arrives in Florida to face fraud charges; ordered held in jail, Associated Newswire, July 12, 2007, available at LEXIS, News Library, Wire News Services File.
^[2] Id.
^[3] Id.
^[4] Id.
^[5] Id.
^[6] Id.