Anne Hathaway got smart and ditched ex-beau Raffaello Follieri at just the right time -- the Italian businessman has just pleaded guilty in a real estate fraud case -- and will do time.

Follieri pleaded guilty to wire fraud, money laundering and conspiracy, for which he'll spend four years in prison for posing as a Vatican rep, telling investors in the United States that the church would sell him property at a discount.

Raffaello reportedly used up to $6 million in investor cash to support a luxe lifesetyle. He and Hathaway split in June, shortly before Feds popped Follieri for illegal business dealings.

Click on an image to view the ANNE HATHAWAY photo gallery!