Raffaello Follieri might be in the process of negotiating a deal with the feds, which would put him in prison for five to 6 1/2 years instead of the nine-year sentence he could face if he's convicted by a jury. [NYP]
After months of tabloid drama, Britney Spears and Kevin Federline appear to have finally settled their custody dispute. Kevin will get sole custody of the kids and Brit will have visitation rights. More details will be released after they talk to the judge this morning. [E!]
Imprisoned Tyco CEO Dennis Kozlowski and his former-waitress wife have reached a divorce settlement. [NYP]
The launch party for Kimora Lee Simmons' new line, Fabulosity, was a disaster. Some guests threatened to leave, while others started stealing perfume bottles. [Page Six]
Fabian Basabe threw a fit when he couldn't get into a party at the Chateau Marmont, and eventually snuck in through a back entrance. [R&M]
Denise Richards asked a judge to change her custody agreement with Charlie Sheen on Thursday, but her request was denied. So she's heading back to court to talk to a different judge on Monday. [ET]
A Long Island judge ordered 50 Cent to take a drug test before he'd grant visitation rights with his son. Shockingly, he passed and so now father and son are now free to go on vacation in August. [NYDN]
Jennifer Garner and Ben Affleck might be expecting again. The couple was spotted coming out of an obstetrician's office on Wednesday, and now one of Jen's former co-stars is saying she's pregnant. [E!]
Yet another way Jennifer Lopez is losing the baby weight: She's sitting in a sauna for up to three hours a day. [NYDN]
Michael Lohan has supposedly proposed to a missionary worker named Erin Muller, which would mean Lindsay Lohan is about to get a new stepmother. [National Enquirer]
Michael Buble was spotted hitting on a group of ladies by buying them $13,000 worth of handbags. [NYDN]
Dennis Farina pled no contest to carrying a loaded weapon through LAX in court. He was sentenced to two years probation and $1,191 in fines. [E!]
Sienna Miller is moving in with Balthazar Getty. [Mirror]
Derek Jeter showed up for dinner with a "beautiful brunette" who was not Minka Kelly. Scandal. [Page Six]
A super-slim looking Barry Manilow is definitely not suffering from a serious illness, in case you've been especially concerned. [NYDN]
