Music mogul facing charges

Boy-band mogul Lou Pearlman is losing his lakefront home in Orlando, Fla., and a New Jersey condominium in bankruptcy proceedings, as he faces separate federal charges of defrauding a bank out of $20 million.

A bankruptcy judge Thursday approved the $7.1-million sale of the 9,000-square-foot Orlando home and a $335,000 condominium in Atlantic City, N.J., owned by the man who created the Backstreet Boys and ‘NSync.

Pearlman, 53, remains jailed after being indicted on three counts of bank fraud and single counts of mail and wire fraud for business he did with Evansville, Ind.-based Integra Bank N.A., according to court documents.

Pearlman was arrested in June in Indonesia, where he was found staying at a posh hotel under an assumed name.