12:04, July 12 23 0 usmagazine.com

2020-07-12 12:04:03

 

Lori Loughlin and Mossimo Giannulli Sell Bel Air Mansion at a Loss

Lori Loughlin and Mossimo Giannulli have sold their mansion in the Bel Air neighborhood of Los Angeles just one month before their sentencing date in the college admissions case, Us Weekly can confirm.

Celebrity Real Estate

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As first reported by Variety on Saturday, July 11, Tinder cofounder Justin Mateen purchased the property for approximately $18 million — a steep discount from the house’s most recent asking price of $28.7 million. According to the outlet, the Full House alum, 55, and Giannulli, 57, bought the home in June 2015 for $14 million and spent additional costs in renovations.

The 12,000-square-foot property boasts six bedrooms, nine bathrooms, an eat-in chef’s kitchen, two living rooms, an outdoor courtyard and a swimming pool.

Lori Loughlin and Mossimo Giannulli Sell $18 Million Bel-Air Mansion Amid College Admissions Case
Mossimo Giannulli and Lori Loughlin Shutterstock

Loughlin and Giannulli further cut ties with the Bel Air neighborhood when they reportedly resigned from the Bel-Air Country Club in June after the Board of Directors voted to suspend the couple’s membership.

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The changes come as the pair await to be sentenced on August 21 following their guilty pleas in the college admissions case. Loughlin and the fashion designer were arrested in March 2019 after they were accused of paying $500,000 in bribes to ensure their daughters Bella, 21, and Olivia Jade, 20, would be admitted to the University of Southern California as crew recruits. The Summerland alum and her husband initially pleaded not guilty to fraud, money laundering and bribery charges. However, they officially pleaded guilty in May via video conference.

Loughlin is expected to serve two months in prison, pay a $150,000 fine, serve two years of supervised release and complete 100 hours of community service. Giannulli’s plea deal, meanwhile, includes five months prison, a $250,000 fine and 250 hours of community service.

A source told Us in May that the couple are hoping to stagger their prison sentences.

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“Lori and Moss don’t want to serve their prison sentences at the same time,” the insider said at the time. “Among the reasons, even though their daughters are adults, Lori wants one parent to be free to provide emotional support to the girls. Lori’s concern all along has been Isabella and Olivia Jade.”

A second insider added that the stars’ daughters are “proud” of their parents for taking the plea deals.

“It will be surreal for Isabella and Olivia to visit them behind bars, but this is a much better outcome than what they envisioned,” the source explained. “As embarrassing and awful as it’s been, Olivia and Isabella still love their mom deeply, and it pains them to see her suffer.”

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