FOLLIERI ADMITS $3.6 MILLION FRAUD

Last updated: Tuesday, December 16, 2008

FOLLIERI ADMITS $3.6 MILLION FRAUD

ANNE HATHAWAY's incarcerated ex-boyfriend RAFFAELLO FOLLIERI has admitted owing more than $3.6 million (GBP2.4 million) which he scammed during his fraud and money laundering spree.

Anne Hathaway and Raffaello Follieri at Mercedes-Benz Fashion Week New York Spring 2008 at Bryant Park - Miss Sixty - Departures. New York City, USA - 030208

The 30-year-old Italian was sentenced to a four-and-a-half year prison spell after pleading guilty to 14 counts of wire fraud, conspiracy and money laundering earlier this year (Oct08).

In legal papers filed in New York on Monday (15Dec08), prosecutors said Follieri has agreed to pay restitution of $2 million (GBP1.3 million) to the Toronto-based company Dundee Realty Corp.

Follieri will also pay $813,000 (GBP542,000) to Yucaipa Corporate Initiatives Fund and $40,000 (GBP26,666) to an Atlantic City monsignor.

Follieri was arrested back in June (08) - two weeks after the actress ended their four-year romance - and accused of posing as the Vatican's representative in America while duping investors into believing the church would sell property at a discount. Follieri admitted all the charges against him.

Source: WENN

| Tuesday, December 16, 2008

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FOLLIERI ADMITS $3.6 MILLION FRAUD

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