Last night Raffaello Follieri mingled at the Oscars on the arm of his girlfriend, presenter Anne Hathaway. No one knew who he was, not really, but he looked, one news outlet noted, “tall dark and handsome.” Little did they know he could barely afford the tux. Seems just last week, Follieri made an appearance in Delaware Chancery Court, where he explained that he couldn’t pay the $12 million he had agreed to pay Ron Burkle to settle a lawsuit the supermarket magnate filed against him in April. The suit alleged that Follieri had taken $57 million of Burkle’s money, intended to develop church properties, and used it instead to spend it on “a lifestyle that included private jets, a penthouse and trips to Europe with his movie-star girlfriend.” Follieri denied the charges — he would never! — but agreed to settle some months ago. But now, he says, he, um, doesn’t have any money anymore. You see, judge, all those trips to the Waverly Inn kinda add up. “The money is not there,” one of Follieri’s attorneys, Philip Trainer Jr., told the court. Oops?
Yucaipa to be paid in property [Bloomberg]