Lou Pearlman Indicted On Five Counts of Fraud

June 28, 2007 12:26 PM ET

After his much-publicized capture in Bali and detainment in Guam, boy band impresario Lou Pearlman was finally indicted by a federal grand jury in Florida yesterday. Pearlman is accused of using fake accounting documents to secure millions of dollars in bank loans. Additionally, Florida investigators claim that Pearlman defrauded at least 1,000 independent investors out of more than $315 million; a handful of banks say he owes them more than $120 million. We're thinking these developments move Pearlman up the list of baddest Svengalis ever.

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Song Stories

“Bleeding Love”

Leona Lewis | 2007

In 2008, The X Factor winner Leona Lewis backed up her U.K. singing competition victory with an R&B anthem for the ages: "Bleeding Love," an international hit that became the best-selling song of the year. The track was co-penned by OneRepublic's Ryan Tedder (whose radio dominance would continue with songs such as Beyonce's "Halo" and Adele's "Rumour Has It") and solo artist Jesse McCartney, who was inspired by a former girlfriend, Gossip Girl actress Katie Cassidy. Given the song's success, McCartney didn't regret handing over such a personal track: "No, no," he said. "I'm so happy for Leona. She deserves it. There are really no bad feelings."

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