Ep 27. Raffaello Follieri

American Greed season 4 episode 27 titled "Raffaello Follieri" tells the story of the Italian businessman and socialite who captivated America's elite with his charm and extravagant lifestyle. Follieri was a man who seemingly had it all - he dated Hollywood starlet Anne Hathaway and counted prominent politicians as friends. Despite all of this, Raffaello Follieri's empire would unravel, revealing a web of fraud that would land him in jail and tarnish the reputations of those around him.

The episode begins by highlighting Follieri's humble beginnings in Italy, where he grew up in a working-class family. He moved to the United States in the early 2000s and quickly made a name for himself in New York City's elite social circles. Follieri's rise to fame was due in part to his business ventures, which he claimed were centered around buying and selling Catholic Church properties. He also positioned himself as a liaison between the Vatican and wealthy investors looking to invest in Rome.

Follieri's empire began to unravel in the mid-2000s, when the Italian businessman raised eyebrows by purchasing a $50 million private jet and expensive real estate properties across New York City. He also threw lavish parties attended by Hollywood stars and high-ranking politicians, including former President Bill Clinton, whom he had reportedly hired as a consultant for his foundation.

However, Follieri's lavish lifestyle would prove to be unsustainable as the truth about his business ventures began to surface. An investigation by the FBI revealed that Follieri had been misrepresenting himself and his business ventures to investors. He had allegedly been using the money he received from investors to fund his extravagant lifestyle, rather than investing it as promised.

As Follieri's fraudulent activities came to light, his ex-girlfriend Anne Hathaway found herself in the midst of the scandal. Although Hathaway had reportedly broken up with Follieri before his arrest, she was still linked to him through their shared involvement in his charitable foundation. The actress was forced to speak out on the matter, stating that she had no knowledge of Follieri's fraudulent activities and that she had cut ties with him after their breakup.

The episode also sheds light on the legal troubles that Follieri faced as a result of his actions. He pled guilty to charges of wire fraud, money laundering, and conspiracy in 2008 and was sentenced to four and a half years in prison. In addition to his prison sentence, he was ordered to pay $2.4 million in restitution.

The episode concludes by highlighting the lasting impact that Follieri's fraud had on his investors and those around him. Many people lost millions of dollars due to their investments with Follieri. Additionally, the scandal stained the reputations of those connected to him, including Hathaway and former President Clinton, both of whom were forced to distance themselves from Follieri and his foundation.

Overall, American Greed season 4 episode 27 is a cautionary tale about the dangers of greed and the consequences of fraudulent activities. It sheds light on the rise and fall of Raffaello Follieri, a man who went from a small-town Italian boy to a socialite and accused fraudster whose empire crumbled under his own lies.