Boy band producer in federal court

ORLANDO, Fla., July 11 (UPI) -- The producer behind boy bands 'N Sync and Backstreet Boys Wednesday was led into a federal courthouse in Florida to face charges of bank fraud.

Lou Pearlman was scheduled to answer to three counts of bank fraud and one count each of mail and wire fraud involving loans worth $20 million from an Indiana bank, The Orlando (Fla.) Sentinel reported Wednesday.

Pearlman fled the United States in January after not making loan payments in mid- and late-2006, foreclosure suits filed against him indicated.

Creditors alleged Pearlman defaulted on at least $130 million in loans. Several lawsuits alleged he received more than $317 million from 1,800 investors in an "employee investment savings account" program.

FBI agents in Orlando June 14 tracked Pearlman to a hotel in Bali, Indonesia. In cooperation with Indonesian police, officials deported him to the island of Guam, the nearest U.S. territory, under FBI escort.

The next day, Pearlman was handcuffed and arrested in Guam on a sealed warrant.

A search of his Bali hotel room turned up $20,000 in U.S. currency and another $4,500 in Indonesian money.

An Orlando federal grand jury indicted him June 27.