Hathaway's former beau pleads guilty

NEW YORK, Sept. 10 (UPI) -- Businessman Raffaello Follieri, U.S. actress Anne Hathaway's former beau, has pleaded guilty to wire fraud and money laundering.

People.com said Follieri pleaded guilty in federal court in New York Wednesday morning to one count of conspiracy to commit wire fraud, eight counts of wire fraud and five counts of money laundering.

"I know what I did was wrong," he reportedly told the judge overseeing the case.

Follieri, who was arrested in June, is due to be sentenced next month, People.com said, adding the Italian businessman has agreed not to appeal a sentence of less than 63 months in prison.

Best known for her roles in "The Princess Diaries," "Brokeback Mountain," "The Devil Wears Prada," "Becoming Jane" and "Get Smart," Hathaway dated Follieri for about four years and broke up with him shortly before his arrest.

Prosecutors said Follieri was a "con man" who spent hundreds of thousands of dollars obtained from investors to live a lavish lifestyle.

He was also accused of lying to investors and claiming he had been appointed the chief financial officer of the Vatican. Investigators said that because Follieri lied about his connections to the Vatican, he was able to buy properties owned by the Catholic church in the United States for lower prices.