Raffaello Follieri, best known as Anne Hathaway‘s criminal ex-boyfriend, has pled guilty to defrauding investors of millions of dollars.

He entered his guilty plea this morning in federal court as “part of a plea deal with federal prosecutors to reduce his sentence and avoid trial.”� ABC News reports that Follieri

could have spent up to nine years behind bars if a jury had convicted him of wire fraud, money laundering and conspiracy. Instead, he will get a considerably shorter prison term when he is sentenced on Oct. 3. Follieri agreed not to appeal any sentence of up to five years and three months in prison.

He also agreed to repay $2.4 million and forfeit 12 watches and nine pieces of jewelry, according to a court document.

Hathaway broke up with Follieri about six hours prior to his arrest.

This plea is the culmination of a history of financial and legal trouble for Follieri.� In 2007, he was sued for $1.3M by billionaire and Bill Clinton pal Ron Burkle for misappropriating funds from their joint real estate venture; Follieri settled with Burkle out of court. � Earlier this year, he bounced a check for over $200,000 and was charged with a misdemeanor; he eventually came up with the funds to cover the check.

Hathaway speaks candidly about their relationship in the latest issue of W.

[ Images by WENN ]

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