Follieri Pleads Guilty

We’ve been keeping a watchful eye on the Follieri money laundering case over the past couple of weeks. Australia.TO reports that Follieri has pleaded guilty in a Manhattan federal court to one count of conspiracy to commit wire fraud, eight counts of wire fraud, and five counts of money laundering. Each wire fraud count and money laundering count carries a maximum of 20 years in prison, as a result he faces up to 265 years in prison for all of his counts.

In addition, Follieri agreed to forfeit 12 watches and 9 pieces of jewelry as well as a payment of $2,4440,000.

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