Ready For Prison? Lori Loughlin Selling $28.7 Million Mansion Amid College Admissions Scandal
Jan. 31 2020, Updated 8:44 p.m. ET
Lori Loughlin and husband Mossimo Giannulli are done laying low amid their college admissions scandal. As RadarOnline.com has learned, the pair has listed their multi-million dollar mansion.
Us Weekly confirmed that the couple is trying to sell the family home for almost $28.7 million after attempting to sell for $35 million in 2017. They bought it in 2015, or $13.995 million. The 12,000 square-foot mansion includes six bedrooms and nine bathrooms, a large swimming pool, an outdoor courtyard, two living rooms, a formal dining room and an eat-in chef’s kitchen.
Sources told reporters that Loughlin, 55, and Giannulli’s decision to sell the luxurious Bel-Air mansion has nothing to do with the college scandal, and the couple is simply looking for a new home that follows fashion designer Giannulli’s passion for architecture.
Still, RadarOnline.com readers know Loughlin and Giannulli, 56, used the property as collateral for their $2 million bail for fraud charges, and the New York Daily News reported that Giannulli was warned by U.S. District Judge Alexander MacKinnon that the government could foreclose on the house if the terms of his release were violated.
The couple could be facing up to 45 years in prison if found guilty of conspiracy to commit mail and wire fraud, honest services fraud, money laundering and federal programs bribery, in connection to the scandal.
Loughlin and Giannulli are among the 36 parents charged in the case the F.B.I named “Operation Varsity Blues.” The couple is accused of paying $500,000 to Rick Singer, a college admissions consultant from California who took payments from parents in exchange for getting their kids into elite schools. In Loughlin and Giannulli’s case, Singer and a USC athletics official tagged the pair’s daughters, Olivia Jade and Bella, as crew recruits to get them into the University of Southern California — though neither of them played crew.
Singer pleaded guilty and and is cooperating with authorities. Loughlin and Giannulli have pleaded not guilty to all charges.
Their next court appearance is scheduled for October.