In a mixing bowl, combine warm milk and active dry yeast. Allow it to froth for about 5 minutes. Next, add granulated sugar, softened butter, and eggs, whisking until smooth. Gradually incorporate half of the all-purpose flour, then slowly add the remaining flour to form a soft, cohesive dough.

Transfer the dough onto a floured surface and knead for approximately 8 minutes until smooth and elastic. Form into a ball and move on to the rising phase.

Place the kneaded dough in a greased bowl, covering it with a clean towel. Set in a warm area and let rise until doubled in size, about 1 hour.

After the dough has risen, punch it down and roll out on a floured surface to about ½-inch thick. Cut out 3-inch circles and gather remaining scraps to re-roll.

Place a dollop of prepared pastry cream in the center of each dough circle. Fold the edges over the filling, pinching firmly to seal.

In a large, deep skillet, heat oil to 350°F (175°C). Fry bomboloni in batches for about 2 minutes on each side until golden brown. Remove to drain on paper towels.

While still warm, dust bomboloni with powdered sugar before serving.