Banks' Losses To Boy Band Mogul Not Covered: Court

By Ryan Davis (July 30, 2009, 7:24 PM EDT) -- A judge has ruled that six small banks are not entitled to coverage from BancInsure Inc. for losses suffered when money they loaned to music mogul Lou Pearlman, the former manager of the Backstreet Boys and 'N Sync now serving 25 years in prison for running a $300 million Ponzi scheme, was never repaid....

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