Next to Madoff Anne Hathaway’s ex is kind of lame.
WSJ: Raffaello Follieri, an Italian entrepreneur, has agreed to pay $3.6 million to victims of a real-estate scam he orchestrated involving Catholic Church-owned properties.
In a court filing Monday, prosecutors said Mr. Follieri, the former chairman and chief executive of Follieri Group LLC in New York, has reached an agreement to pay restitution to five victims, including $60,000 to two monsignors, $750,000 to Plainfield Asset Management LLC and $813,000 to a fund that is part of billionaire Ron Burkle’s closely held Yucaipa Cos.
“The government understands that the stipulated amounts represent a certain percentage of each victim’s total loss amount,” Assistant U.S. Attorney Reed Brodsky wrote in a letter to court.
We guess that something is better than nothing. But we think he should have paid the monsignors ALL their money instead of paying Ron Burkle a percentage of his money.
NY Daily News: Hodge, the rector of St. Nicholas of Tolentine parish in Atlantic City, met Follieri in 2005, when Follieri was trying to buy unused church properties in Atlantic City.
They became close and, on three occasions, traveled together to Rome, where Follieri introduced him to Vatican officials.
Hodge said Follieri scammed him for plane tickets and other bogus expenses totalling more than $120,000.