From serving the Vatican to serving time. This is the path that Anne Hathaway’s ex-boyfriend Raffaello Follieri will walk on, since he decided not to appeal the court’s sentence of up to five years and three months in prison for charges including wire fraud, money laundering and conspiracy.

Follieri, 30, is an Italian businessman who posed as the Vatican’s representative to the United States in order to get investors to think he could buy, using his high-placed connections, Catholic properties at big discounts. Instead, he was actually sending the money they gave him to foreign personal bank accounts. Moreover, he used it to purchase a private jet and pay the $37,000-a-month rent for a luxurious penthouse in Manhattan.

Shortly after his break-up with the leading actress in „The Devil Wears Prada,” he was arrested by the FBI and ordered by the U.S. District Judge John G. Koeltl to give back $2.4 million in cash, along with jewelry and watches.

The prosecutors stated that his elaborate scam included keeping ceremonial robes in his Manhattan office, telling investors he had been in charge of the Vatican’s financial affairs and also claiming he had met the Pope in person.

Raffaello Follieri was charged in June, when twelve criminal complaints were filed against him. A court hearing in his case could take place next Tuesday. Until then, he remains in custody in New York, unless he manages to pay the bail that has been set for $21 million.