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Talk of the bay: Federal grand jury indicts Lou Pearlman

By Times staff
Published June 28, 2007

Lou Pearlman was indicted Wednesday by a federal grand jury on charges he defrauded a bank out of $20-million. Pearlman, 53, was indicted on three counts of bank fraud and single counts of mail and wire fraud for business with Integra Bank N.A. of Evansville, Ind., according to court documents. Florida investigators separately allege Pearlman defrauded more than 1, 000 individual investors out of more than $315-million. U.S. Marshal Jimmy Disbrow said authorities will soon transport Pearlman to Florida. "It's roughly going to be about two weeks before we see him," Disbrow said Wednesday.

Plug to sell Citizens doesn't sit well
Here's a sign of things to come: Citizens Property Insurance chairman Bruce Douglas wants State Farm and other companies to back off the heavy-handed advertising banners. As Citizens takes on more of the state's property insurance load, the agents have started actively soliciting Citizens business to replace what they're losing as the private market disappears. Some, including a State Farm agent in St. Petersburg, have hung banners outside their offices that read "Get Your Citizens Policy Here." The irony was not lost on Douglas, who on Wednesday questioned the legality of the signs and asked Citizens' board of governors to find ways to stop it. More than 8, 500 insurance agents in Florida sell Citizens policies.

Progress spreads energy-saving word
Progress Energy kicks off its new Save the Watts campaign today, including a new mascot, cleverly named Save the Watts Guy. It includes rebates for solar, an expansion of a program that allows Progress Energy to turn off certain appliances during peak hours, and $10, 000 in energy-saving improvements for three winners of an essay contest. For more information and energy-saving tips, go to www.savethewatts.com.

Correction
The Pinellas County Property Appraiser has valued Westin Innisbrook Resort's four parcels and buildings at $21.7-million. A story in Wednesday's newspaper reported an incorrect value.

[Last modified June 27, 2007, 23:00:53]