Rafaello Follieri Pleads Guilty

September 10, 2008 By:
Rafaello Follieri Pleads Guilty

As anticipated, Rafaello Follieri pleaded guilty today for charges of fraud in which he lied about links to the Vatican. He admitted in U.S. District Court to a scheme in which he fraudulently obtained more than $2 million in a web of shell companies with phony consultancies.

Dressed in dark blue prison-issue pants and shirt over a white undershirt, Follieri answered "guilty" to each of 14 counts charging him with conspiracy to commit wire fraud, wire fraud and money laundering before U.S. District Judge John Koeltl.

He faces a possible max of 20 years in prison, but because of his plea bargain, it's likely Follieri will only serve a few years. This must be some good closure for Anne!