The British actor has signed on to star as the famed boyband producer in a TV series based on an article published in The New Yorker, Entertainment Tonight has confirmed.

The piece, titled We Live in a Pop-Culture World that Lou Pearlman Created, documents Pearlman's rise from struggling business owner to music mogul, as well as his conviction and imprisonment for fraud.

The 62-year-old, who famously created hugely successful U.S. boybands *NSYNC and the Backstreet Boys, died at the Federal Correctional Institute in Miami, Florida, back in August (16) where he was serving a 25-year sentence.

Pearlman was convicted in 2008 for his involvement in a Ponzi scheme that swindled 1,700 investors out of more than $300 million (£246 million).

He was also sued by most of his acts, including the Backstreet Boys, *NSYNC, O-Town, LFO, Take 5, Natural and Aaron Carter, for fraud and misrepresentation.

"We’re beyond excited to have someone of Toby's calibre on board," Jon Kanak of Magnet Management, told ET. "He was our first choice. We’re thrilled that he responded to the material."

Jones made his breakthrough as Truman Capote in the biopic Infamous in 2006, and has since starred in Captain America: The First Avenger, Tinker Tailor Soldier Spy and The Hunger Games.

He's also appearing in the latest series of Sherlock, alongside Benedict Cumberbatch, due to air in the U.K. in January (17).