In a new interview with the Daily Mail, Follieri opened up about his famous ex and claimed Hathaway cut off communication with him after he was arrested.
"That night [before he was arrested] Annie phoned me from Los Angeles where she was doing press [for the movie Get Smart]," he said. "We were on the phone for 10 minutes talking about when she might come home.
"If I remember, Annie's last words were, 'I love you forever,' and we ended the call. That was 2am on June 24, 2008. At 6am I was arrested. I never spoke to Annie again.
"I think she made a business decision," he said about Hathaway's choice not to contact him. "She decided saving her career was most important. I am not bitter. You can look in my eyes. I don't have anger but I've been hurt."
Hathaway joked about Follieri's arrest when she hosted Saturday Night Live in October 2018.
"I broke up with my boyfriend, and two weeks later he was sent to prison for fraud. I mean, we've all been there, right ladies?" the actress said.
The Princess Diaries star went on to marry businessman Adam Shulman in 2012 and the couple have two children together.
As for Follieri, he is now out of prison and rebuilt his business empire which is estimated to be worth more than $290 million.
He is married to a woman named Konstantina and the couple are currently expecting their second child.
"If there's one positive that has come out of this, it's understanding you need to have the right person next to you – someone you trust. I trusted the wrong people," Follieri told the Daily Mail.
"Konstantina came to see me throughout the four years [in prison]. My wife is a heart person. She really cares for me, not for what I have or what I can afford. If tomorrow I decided to go and live a simple life, she would be OK with it."