Lori Loughlin and Mossimo Giannulli List Multi-Million Dollar Mansion Amid College Admissions Scandal
The pair reportedly tried to sell the mansion in 2017 for $35 million
Sources reportedly told the outlet that the sale has “nothing” to do with the scandal, but that the couple is “following Mossimo’s passion for architecture.”
Loughlin and Giannulli used the property as collateral for their $2 million bail for the fraud charges, PEOPLE reported in March of last year.
U.S. District Judge Alexander MacKinnon reportedly told Giannulli in court at the time that the government could foreclose on the residence if the terms of his release were violated, the New York Daily News reported.
The 12,000 square-foot mansion includes six bedrooms and nine bathrooms, a large swimming pool, outdoor courtyard, two living rooms, formal dining room and an eat-in chef’s kitchen.
Loughlin and Giannulli tried to sell the home for $35 million in 2017, Variety reported at the time, after purchasing it in 2015 for $13.995 million.
Loughlin and Giannulli are accused of paying $500,000 to admissions consultant Rick Singer (and his nonprofit organization, Key Worldwide Foundation) to falsely designate daughters Olivia Jade Giannulli, 20, and Isabella Rose Giannulli, 21, as recruits to the University of Southern California crew team, even though neither of them ever participated in the sport.
It is also alleged that the family even took photos of Olivia and Isabella on rowing equipment to perpetuate the ruse.
In October 2019, the parents were charged with one count each of conspiracy to commit federal programs bribery in addition to charges of money laundering conspiracy, conspiracy to commit mail and wire fraud and honest services mail and wire fraud.
Both have pleaded not guilty on the counts against them.
A source close to the actress told PEOPLE last month that the Full House star did not realize she was doing anything illegal.
“Lori was hoodwinked by Rick Singer,” the source said. “There’s no other way to put it. She was convinced that she was making a donation, just like parents have been doing for years.”
“She did not have any intent to do something illegal, and in fact, she thought she was doing the right thing,” the source said. “That’s why she hasn’t pleaded guilty; frankly, she believes that she is innocent and that the evidence shown in court will prove that. Unfortunately, it seems as though the prosecution is hell-bent on making examples out of people, and not playing fair.”