Lori Loughlin & Mossimo Giannulli Reportedly Sell Their Bel-Air Mansion Ahead Of Their Sentencing In The Varsity Blues College Admissions Scandal
Just ahead of their scheduled sentencing date for their role in the Varsity Blues college admissions scandal, Full House star Lori Loughlin and her husband, Mossimo Giannulli, have reportedly sold their multi-million dollar Bel-Air mansion.
According to People magazine, Loughlin and Giannulli put the home on the market back in January and listed it for $28.65 million. The exact sale price of the home has not yet been revealed, but a real estate insider claims it was a lot less than the asking price.
"They are still making money from the sale, just not as much as they hoped for," dished the source. "The house is spectacular with views of the Bel-Air Country Club."
Loughlin and Giannulli recently resigned from the exclusive club .
The 12,000 square-foot home features six bedrooms and nine bathrooms, two living rooms, a formal dining room, an eat-in chef’s kitchen, an outdoor courtyard, and a large swimming pool. Loughlin and Giannulli bought the home in 2015 for just under $14 million, but put it back on the market just two years later for $35 million.
The couple took it off the market in 2018 and used the property as collateral after they were arrested. They needed the home to cover their $2 million bond to get out of jail.
Tinder co-founder Justin Mateen - who resigned as CEO in 2014 amid sexual harassment allegations - reportedly purchased the home.
When they put the house on the market, an insider claimed at the time that Loughlin and Giannulli didn’t need the money and they were patiently waiting for the right buyer.
“They are stressed about a lot of things, but money isn’t one of them,” explained the source.
A second insider noted that Giannulli has been “buying, refurbishing, and renovating and selling houses for over 20 years.”
The couple also owns a beach house in Orange County, and that is where they are believed to be staying during the weeks leading up to their sentencing. Back in May, Loughlin and Giannulli both pleaded guilty to one count of conspiracy to commit wire and mail fraud, and Giannulli also pleaded guilty to one count of honest services wire and mail fraud.
This was all a result of the couple paying Rick Singer and Key Worldwide Foundation $500,000 to falsely designate their two daughters - Olivia Jade and Isabella Rose - as crew recruits to gain admission into the University of Southern California.
Under the terms of their deal - which still needs the judge’s approval - Loughlin will spend two months in prison, pay a $150,000 fine, and do 100 hours of community service. Giannulli has agreed to serve five months in prison, pay a $250,000 fine, and perform 250 hours of community service.
Lori Loughlin and Mossimo Giannulli are scheduled for sentencing on August 21.