One would think that somebody like Anne Hathaway would have good taste in men. Well, it appears that she doesn't, as Hathaway dated for four years an Italian con man who, according to his own lawyer, tried to adopt a lifestyle that was not his, that he was not able to maintain.

Finally, Italian real estate developer Raffaello Follieri pleaded guilty for his involvement in the so-called Vati-Con scandal, a scheme in which he misappropriated a $50 million investment from California billionaire Ronald Burkle meant to buy up abandoned Roman Catholic properties in the United States.

Follieri pleaded guilty to 14 federal charges of wire fraud, money laundering and conspiracy in Manhattan District Court on Wednesday. Thus, Follieri struck a deal with prosecutors which effectively limits his maximum sentencing time to five years and three months in prison, down from around nine should have he stood trial.

Raffaello Follieri agreed to repay $2.4 million and forfeit 12 watches and nine pieces of jewelry and will be sentenced on Oct. 3.

At the time of his arrest, in June this year, Follieri, who dated Hathaway for four years before she finally decided to break up with him in the wake of his troubles with the law, had tested positive for opiates from a urine sample. Follieri secretly siphoned millions from his real- estate-investment fund to pay for a lavish lifestyle, the prosecutors said. His loot allegedly helped him jet around the world with Hathaway, and even pay her medical bills.

Apparently, he lied to investors that he was the Vatican's chief financial officer and had the ear of Pope Benedict XVI. It seems that the efforts he made to pose as a Vatican insider went as far as him displaying Vatican robes in his office and asking a priest to appear wearing a robe above his rank in order to give him more credit.

Follieri was under investigation by the New York State Attorney General's office for failing to file tax-disclosure forms for his charity, the Follieri Foundation. He was also arrested in April for allegedly writing a $215,000 bad check.

Anne Hathaway's diaries have been confiscated by the FBI during a raid at her ex-boyfriend's Manhattan apartment on July 24, which the two shared until breaking up. Among other things that have been taken from his apartment there were pictures of him and Miss Hathaway as well as the Clintons, Pope John Paul II and the McCains.

Raffaello Follieri was arrested just a few days after he returned from a business trip to Europe. Anne Hathaway was the one to ask him to return in order to clear things out about their relationship. This made some people believe that the actress was somehow involved in arresting her ex-boyfriend.