Lori Loughlin & Mossimo Giannulli Put Multi-Million Dollar Mansion On The Market Amid College Admissions Scandal
Lori Loughlin and her husband Mossimo Giannulli have put their multi-million dollar mansion on the market. The couple is currently facing decades in prison, but insiders say that listing the home has “nothing” to do with the Varsity Blues college admissions scandal.
According to TMZ, Loughlin and Giannulli listed their home for $28.7 million. This is the same home that the couple has been “laying low” in while they wait for their day in court. They also used the home as collateral for their $2 million bail to get out of jail after their arrests.
At the time, the New York Daily News reported that U.S. District Judge Alexander MacKinnon told Giannulli in court that if he or Loughlin violated their bail conditions, the federal government could foreclose on the property.
Sources say that selling the 12,000 square-foot home is “following Mossimo’s passion for architecture,” and the couple has attempted to sell it in the past. In 2017, Loughlin and Giannulli listed the home for $35 million after purchasing the property in 2015 for $13.995 million. It features six bedrooms, nine bathrooms, two living rooms, a formal dining room, an eat-in chef’s kitchen, plus an outdoor courtyard and a large swimming pool.
In October 2019, Loughlin and Giannulli were each charged with one count of conspiracy to commit federal programs bribery. This was in addition to the charges of money laundering conspiracy, conspiracy to commit mail and wire fraud, and honest services mail and wire fraud that they were charged with in the spring of 2019.
Both Loughlin and Giannulli have pleaded not guilty to the charges and are waiting for the upcoming trial. The couple is accused of paying college admissions consultant Rick Singer and his nonprofit organization Key Worldwide Foundation $500,000 to falsely designate their two daughters - Olive Jade and Isabella Rose - as crew recruits to the University of Southern California, even though neither one has ever participated in the sport.
Sources claim that Loughlin and her husband were “hoodwinked” by Singer, and the couple believed they were making a donation. An insider says that Lori Loughlin did not have any intent to do something illegal, and she thought she was “doing the right thing.”