Backstreet Boys and NSync founder Lou Pearlman dies in prison aged 62

Boy band founder Lou Pearlman has died in prison at the age of 62.

The businessman and music mogul, who launched Backstreet Boys and NSync, passed away on Friday, the Federal Bureau of Prisons has revealed.

Pearlman, whose cause of death is currently unknown, had been serving a 25-year sentence at the Federal Correctional Institution in Texarkana, Texas.

The producer was convicted in 2008 over a Ponzi scheme that left investors $300 million out of pocket.

He had pleaded guilty to conspiracy, money laundering and male false statement during bankruptcy proceedings.

Pearlman launched Trans Continental Records with a view to finding the next big boy band, following the success of New Kids on the Block.

He put together both Backstreet Boys and NSync in the 1990s, and helped launch the solo careers of Nick Carter and Justin Timberlakce.

Following news of Pearlman’s death, Timberlake tweeted: “I hope he found some peace. God bless and RIP, Lou Pearlman.”

Lance Bass wrote: “Word is that #LouPearlman has passed away. He might not have been a stand up businessman , but I wouldn't be doing what I love today wout his influence. RIP Lou,”

Aaron Carter, who filed a lawsuit against Pearlman back in 2002 at the age of 14, wrote on his Twitter account:

“#LouPearlman my old manager died in prison... Rip Lou not the best business guy really at all but he did discover me karma is real.”