Lou Pearlman has been told he must repay the victims he conned out of $300 million (£150 million).The shamed former boy band manager, who was behind the success of acts such as Backstreet Boys and 'N Sync, is currently serving a 25-year prison sentence after he was convicted of fraud earlier this year.And now the svengali/promoter has worked out a restitution package with U.S. federal authorities.Pearlman has been allowed to manage the few remaining music acts he still represents from behind bars; the money he makes from this will go towards the $300 million he now owes those he cheated.Reports suggest Pearlman scammed almost $200 million (£100 million) from more than 1,000 people in an alleged savings programme con.Another alleged $70 million (£35 million) was invested by people who thought they were buying shares in companies owned by Pearlman that mostly had no assets.Pearlman is currently on remand with the Federal Bureau of Prisons; the authorities will transfer him to an undetermined facility at a later date.

Tagged in