After two and a half months sharing a seven-and-a-half-by-eight-foot concrete cell at the Metropolitan Correctional Center, accused con man Raffaello Follieri will plead guilty tomorrow to federal charges of wire fraud and money laundering, the AP reports. The Italian entrepreneur was supposedly dumped by Anne Hathaway the night before his arrest; friends of his have since suggested that Hathaway—who had been involved with Follieri's foundation—may have lured Follieri back to New York from Italy to get the feds off her own back. With the plea deal, Follieri faces up to six and a half years in prison. Next month's Vanity Fair has a long juicy article about his nose-dive, and by the end you just might catch yourself feeling a tiny bit sorry for the guy. Crazy, right? more ›

Scandalous details have emerged from yesterday’s arrest of Italian socialite Raffaello Follieri, who was dragged into federal court on a 12-count complaint that includes charges of wire fraud conspiracy and money laundering. The allegations could net him nine years in jail, and because of that bail was set at $21 million, “to be secured by $16 million in cash and property and guaranteed by five financially responsible persons,” according to the Times. Follieri was also compelled to turn over all travel documents and will have to wear a tracking anklet when he leaves his apartment, but there must be a way to get it cast in gold and engraved with his monogram. more ›

We know from reading our Daily Mail that Hollywood starlet Anne Hathaway broke up with disgraced Italian businessman Raffaello Follieri last week, and not a moment too soon: Follieri has just been arrested (again!) on wire fraud conspiracy and money laundering charges. Earlier this month, the state attorney general’s office acknowledged an investigation into Follieri and his foundation; there is speculation that he misappropriated funds from charity in order to subsidize a lavish lifestyle with Hathaway. more ›