Anne Hathaway’s recently dumped boyfriend, Raffaello Follieri, was arrested yesterday for fraud, money laundering, and conspiracy to commit wire fraud.

At first glance, the business plan hatched by Raffaello Follieri and his father, Pasquale, would make lemonade from lemons.

The Italian father and son founded the Follieri Group in 2003 to purchase underused Catholic Church properties in the United States.

Follieri, a member of Legatus, the Catholic organization of CEOs, told the National Catholic Reporter that two trends sparked the company’s interest in church-owned real estate. American dioceses, in financial crisis because of the widespread sex abuse scandals, were forced to sell holdings to pay lawsuit settlements. And the church’s shifting demographics, with Catholics moving out of the cities, left many empty churches and schools in urban areas.