Raffaello Follieri must turn over $2.4 million and several watches and pieces of jewelry

By Stephen M. Silverman
Updated September 11, 2008 11:40 AM
Credit: Demis Maryannakis / Splash

Though he doesn’t face sentencing until Oct. 3 after pleading guilty Wednesday to 14 counts of wire fraud, money laundering and conspiracy, Raffaello Follieri has already begun meeting terms of his plea-bargain agreement.

Besides paying the federal government $2.4 million he made attracting investors to real-estate ventures, Follieri, 30, is also surrendering 12 watches – among them, a Rolex, a Cartier, a Harrods, a Donald Trump and three Omegas – and nine pieces of jewelry, reports The New York Times. The jewelry is believed to have belonged to Follieri’s former girlfriend, Anne Hathaway.

Those pieces reportedly include a gold-colored ring with light blue-green stone, a pair of silver earrings and blue and clear stones, a 16-inch five-strand necklace with pearl beads, and a 32-inch gold-colored chain with a red-brown stone and gold-colored tassel.

In addition, reports the New York Post, Follieri must forfeit some precious metals and jewelry he stored in the Bronx, as well as a Cartier figurine in a box and a Tiffany clock.

Follieri, who lived in a $37,000-a-month Manhattan apartment in Trump Tower, faces a suggested sentence of between 4¼ and 5¼ years.

“He’s a con artist,” social acquaintance Paolo Zampolli, who works in real estate development, tells The Times. “He deserves what he gets.”

Hathaway, who admitted in a recent interview her world fell apart with Follieri’s downfall, has not been quoted as commenting since he made his guilty pleas Wednesday.