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Developer Raffaello Follieri nears plea deal

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Real estate developer Raffaello Follieri — also known as actress Anne Hathaway’s ex — is nearing a plea deal for federal charges of conspiracy, wire fraud and money laundering in an alleged real estate investment scheme. Follierei, who was arrested in June, is reportedly near an agreement to plead guilty to fraud and money laundering, and could face four to five years in jail. The developer, who is in custody in New York on $21 million bail, allegedly persuaded billionaire Ron Burkle to form a real estate venture to purchase property from the Catholic Church in the U.S. Burkle also sued Follieri last year, accusing him of using $1.3 million from their real estate venture for personal expenses, like a private jet and Manhattan penthouse.