ORLANDO, Fla., June 16 (UPI) -- An aid to convicted Ponzi scheme operator Lou Pearlman, has waived his trial on conspiracy and income tax invasion charges, court papers in Florida say.
Robert Fischetti, managed investor information and mailed out fraudulent account statements connected to a scheme that defrauded 1,500 investors of about $200 million, the Orlando (Fla.) Sentinel reported Wednesday.
Pearlman, the former manager of the Backstreet Boys singing group and 'N Sync, was sentenced to 25 years in prison in 2008 for operating the scam that hinged on investments in a Trans Continental Airlines Employee Investment Savings Account.
The investment was completely fraudulent, Fischetti's plea agreement says. Fischetti is expected to plead guilty July 1, the newspaper said.
