Boy Band Promoter Faces Business Woes

ORLANDO, Fla. -- A judge has clipped the wings of global music promoter and businessman Lou Pearlman.
 
A plane belonging to one of Pearlman's companies was confiscated to settle a debt, but that is just one of many legal battles Pearlman is facing, WESH 2 News reported.
 
Pearlman owns the Trans Continental collection of companies, and he owes at least $65 million to three banks, if their claims in a variety of lawsuits are correct.