Raffaello Follieri Working On A Plea Bargain

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Rafaello Follieri must be tiring of his prison life, because he's working on a way outta the slammer! He's come close making a deal with the prosecutors by pleading guilty to fraud and money laundering charges. "Follieri is in plea discussions," Assistant US attorney Jennifer Burns said late Wednesday as she updated a federal magistrate judge on a series of pending cases during a routine court appearance. His court hearing could take place as early as Tuesday.

But Follieri's lawyer isn't giving up any information, saying, "I'm certainly not saying that, and I'm not sure it's appropriate. As far as I'm concerned, we're looking forward to our day in court."

Assistant US Attorney Reed Brodsky has estimated Follieri would likely spend up to nine years behind bars if a jury convicts him of wire fraud and money laundering.

A deal to plead guilty could land him a reduced sentencing range of five to 6 1/2 years. Should he take it?