
We can only imagine that Raffaello Follieri — who does not yet even have his own Wikipedia page! — has been cut off from his normal source of funds, the Follieri Group, which he's charged with treating as his own personal bank account, despite the fact that its balance sheet belongs to investors like Ron Burkle. That's why his $21 million bail had to be, according to a judge's orders, secured "by $16 million in cash and property and guaranteed by five financially responsible persons." [NYT]
But what if after all his supposed swindling, which involved previous charges by Burkle's Yucaipa fund of $1.3 million in "misappropriated" funds, plus federal prosecutors' charges that he's spent his investors' money lavishly on his own homes, vacations, and medical care, Follieri could still be funneling a bit of change into his bank account?
It could come from the Visa credit card that Follieri is still advertising for. Through one of his websites, would-be debtors can still apply for a Washington Mutual card that supposedly benefited a Catholic charity — except the charity named as the benefactor (The Society for Propagation of the Faith, a group of Catholic missionaries founded in 1822 by Pauline Jaricot) comes up nearly empty when you search through charity registry GuideStar. (Only one charity with a similar name has any money; it's in Pittsburgh as has net assets of $100k.)
The New York-based charity listed under the "Society" name is actually registered as the Duwel Company, whose head director is Monsignor John E. Kozar — who, according a press release, named none other than Follieri "a special consultant to the national office of the Pontifical Mission Societies in the United States." It just so happens Kozar is also "head of the Pontifical Mission Societies in the United States — aka the Society for the Propagation of the Faith," reports Fox 411's Roger Friedman.
So what does Duwel's tax history look like? Short lived. It's federal filings only go back three years, and while $6 million has been put in or taken out, and nothing indicates where the money came from or went.
Meanwhile, as Friedman notes:
“The Duwel Company was organized to hold title to certain real property devised to [benefit] The Society for the Propagation of the Faith. All income is paid to The Society for the Propagation of the Faith and applied by said Society for the corporate purposes, i.e. support and maintenance of the Roman Catholic Church and propagation of the Roman Catholic religion.â€
Are those the same “real properties†Follieri was supposedly buying when he told people he was purchasing abandoned real estate of the Roman Catholic Church?
The Follieri Capital Web site advertises a one percent donation on purchases from its World Missions Credit Card to benefit The Society for Propagation of the Faith.
Or, if this is headed where we think it is, goes to benefit Follieri's own wallet.
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Poor Raffy. This must all be so terrible for him. I sure wish somebody would give a few millions bucks…I don't represent the catholic church but I do need to eat and pay my rent…and working my *** off doesn't seem to be cutting it…