LATEST: Actress Anne Hathaway's boyfriend RAFFAELO FOLLIERI has agreed to pay $1.3 million (GBP650,000) to settle a lawsuit with billionaire RON BURKLE.
Italian businessman Follieri was sued by Burkle last year (07) when the U.S. supermarket tycoon accused him of squandering the sum to support his lavish lifestyle.
A Delaware judge dismissed Burkle's lawsuit on Friday (25Apr08) after the pair announced they had already reached an agreement, though Follieri initially denied the charges.
Burkle first teamed up with Follieri on the purchase of distressed Catholic church properties.
Earlier this month (Apr08) Follieri was arrested and charged with trying to pass a bad cheque, reportedly for around $250,000 (GBP125,000). He is reportedly now working with police to sort what he claims is a misunderstanding.